Rollback of Fintech Regulatory Impediments
Link: https://www.pymnts.com/legal/2026/federal-regulators-reach-deadline-identify-fintech-barriers
Regulatory Rollback – President Donald Trump’s May 19 executive order required six financial regulators to identify regulations, guidance, supervisory practices, and application procedures that may unnecessarily impede FinTech competition within 90 days. The agencies were then required to take steps based on their findings within 180 days—November 15.
However, the August 17th deadline did not require regulators to release their reviews. The six impacted financial regulators are:
1. The Consumer Financial Protection Bureau
2. Securities and Exchange Commission
3. National Credit Union Administration
4. Commodity Futures Trading Commission
5. Federal Deposit Insurance Corporation
6. Office of the Comptroller of the Currency
Because the regulators are not required to publicly disclose what regulations they identified, it is possible changes will only be identified as guidance changes and regulators rescind, modify, or introduce regulations.
Access to Fed Payment System – The order also requested the Federal Reserve to report to the White House by September 16th on whether uninsured depositories and nonbank FinTechs could receive more direct access to Federal Reserve payment accounts and services. The Fed must consider its legal authority, possible risk controls, and barriers that could require legislation. Where existing law permits direct access, the order also asks the Fed to establish transparent application procedures and decide complete applications within 90 days.
Why It Matters:
“The immediate development is procedural, but the commercial consequences could be substantial. Washington has now had 90 days to identify the barriers that helped create the current queue of charter applicants and bank-dependent FinTechs. The next signal will be which barriers regulators decide to remove.”
SEC Proposes New “Regulation Crypto Assets”
Link: https://www.sec.gov/newsroom/press-releases/2026-76-sec-proposes-new-regulation-crypto-assets
“The SEC has proposed regulations that would create a clear and fit-for-purpose framework for certain investment contracts involving crypto assets. This proposal follows the Commission’s March 2026 interpretation clarifying how the federal securities laws apply to certain crypto assets and transactions involving crypto assets.”
“The proposed rules include two exemptions from the registration requirements of the Securities Act of 1933 specifically tailored to certain investment contracts involving crypto assets. The first is a one-time exemption that would permit offerings of up to $5 million during a four-year period. The second exemption would permit offerings of up to $75 million during each 12-month period.”
Why It Matters:
“By building on the Commission’s interpretive guidance issued earlier this year, the proposed rules aim to bring greater clarity to when crypto assets fall within the federal securities laws, reduce incentives for issuers to create and operate offshore, and expand investment opportunities for U.S. investors with stronger, more consistent protections.”
