Integrating Financial Technology Innovation into Regulatory Frameworks

The order directs federal agencies to update and streamline regulatory processes to integrate digital assets and fintech services into traditional financial and payment systems, instructing 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 to review and revise regulations, guidance, supervisory practices, and application processes to reduce burdens and barriers to entry. It requires those federal financial regulators to promote coordination with banks, credit unions, and fintech firms, encourage standardized supervisory expectations, and facilitate safe incorporation of fintech activities such as payment processing, lending, digital banking, custodial services, and digital-assets.