Trump issues digital assets executive order

President Donald Trump signed an executive order on May 19 directing federal regulators to update rules so digital assets and other financial technology can be integrated into traditional financial services and payment systems, according to the White House. The order, titled “Integrating Financial Technology Innovation into Regulatory Frameworks,” says the federal government must revise regulations that it says have favored incumbent firms and slowed fintech entry. A White House fact sheet said the order covers collaboration among fintech firms, federally regulated financial institutions and federal financial regulators. The document was posted by the White House on Tuesday, while Federal Register publication can lag by at least a day. ### What does the executive order actually do? The May 19 order says federal regulators must review existing regulations, guidance, supervisory practices and application processes to identify changes that could facilitate innovation and competition while maintaining safety and soundness. The White House fact sheet names the Consumer Financial Protection Bureau, Securities and Exchange Commission, National Credit Union Administration, Commodity Futures Trading Commission, Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency as covered regulators. (whitehouse.gov) The White House order defines fintech broadly to include non-bank companies using technology to offer or support financial products and services, including payment processing, lending, deposit-taking, brokerage, custodial services, digital banking, digital asset-related services, securities and commodities activities, and blockchain-based services. It also says the policy is to reduce “overly burdensome and fragmented regulations and supervisory practices” that form barriers to entry. (whitehouse.gov) ### Why is the Federal Reserve singled out? The White House fact sheet says the order separately asks the Federal Reserve to conduct its own review and evaluate the legal, regulatory and policy frameworks governing access to Reserve Bank payment accounts and payment services by uninsured depository institutions and non-bank financial companies. The fact sheet says the Fed is asked to report on its legal authorities, options for expanding access subject to risk management requirements, legal impediments, and possible legislative or regulatory options. (whitehouse.gov) The Federal Register’s executive-order index says White House documents are often published after a delay because they must first be transmitted to the Office of the Federal Register. That means the White House posting establishes the text of the order for now, while the formal Federal Register entry may appear later. ### Does the order mention SoFiUSD? (whitehouse.gov) The White House order and fact sheet available on May 20 do not mention SoFiUSD by name in the text surfaced from the White House pages reviewed here. SoFiUSD is a separate product launched by SoFi Technologies on Dec. 18, 2025. SoFi said at the time that SoFiUSD was a fully reserved U.S. dollar stablecoin issued by SoFi Bank, N.A., and described it as the first national bank-issued stablecoin on a public, permissionless blockchain. (federalregister.gov) In March 2026, Mastercard said it was working with SoFi to enable settlement across its network using SoFiUSD, and SoFi CEO Anthony Noto said the token was central to the company’s money-movement strategy. (whitehouse.gov) ### How does this fit with Trump’s earlier digital-assets policy? Trump signed an earlier executive order on Jan. 23, 2025 titled “Strengthening American Leadership in Digital Financial Technology.” That order established a broader policy framework for digital assets and financial technology and led to a presidential working group process described in later White House materials. (investors.sofi.com) The White House fact sheet for the new May 19 order says Trump also signed a March 2025 order establishing a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile. The new order is narrower, focusing on regulatory treatment of fintech firms, bank partnerships and payment-system access. (whitehouse.gov) ### What happens next? The White House fact sheet says federal regulators are to review rules, guidance and supervisory practices, while the Federal Reserve is to evaluate payment-account and payment-service access for uninsured depositories and non-bank fintechs. The next public marker is likely Federal Register publication of the May 19 order, followed by any agency reports or review findings required under the directive. (whitehouse.gov)