President Donald Trump has signed an executive order directing the Federal Reserve and other regulators to review the integration of cryptocurrencies into payment systems. The order, titled "Integrating Financial Technology Innovation into Regulatory Frameworks," aims to eliminate burdensome policies and update the regulatory system to accommodate cryptocurrencies and fintech innovations. Regulators have three months to identify rules that hinder fintech partnerships, with a focus on expanding access to Reserve Bank payment accounts for crypto companies. The directive also calls for measures to encourage innovation over the next six months, including evaluating access for uninsured deposit institutions and non-bank financial companies. This move follows the Kansas City Fed's approval of a limited purpose account for Payward, Kraken's parent company, marking a significant step for crypto firms seeking FED access.