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According to CoinDesk, U.S. President Donald $TRUMP signed an executive order on Tuesday directing federal financial regulators to integrate digital assets and innovative technologies into traditional payment systems.
The order requires regulators to identify within three months any unnecessary rules that hinder fintech companies from partnering with federally regulated institutions, and within six months to implement measures that encourage innovation.
It also instructs the Federal Reserve to examine how uninsured depository institutions and non-bank financial companies can access payment accounts, and whether the Fed’s 12 regional banks could independently grant such access — a provision that could benefit Wyoming’s special purpose depository institutions.
Meanwhile, the Independent Community Bankers of America warned that significant regulatory gaps still remain between banks and non-bank entities.
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