Washington, D.C.— Senate Banking Subcommittee on Digital Assets Chair Cynthia Lummis (R-WY) released the following statement applauding the Trump administration for issuing an Executive Order expanding access to Federal Reserve Master Accounts for digital asset companies.
“This Executive Order puts the Federal Reserve on notice that it must follow the law and provide equal access to the payments system for all eligible fintech companies,” said Lummis. “For years, Fintech has been shut out while legacy institutions enjoyed privileged access, and the Trump administration is ensuring a level playing field, competition, and lower payments costs for consumers. American innovation cannot wait on bureaucratic inertia, and President Trump is making sure it does not have to.”