Trump order seeks Fed access for crypto firms as CLARITY Act advances
President Donald Trump’s new fintech executive order asks the U.S. Federal Reserve to review whether crypto firms can gain direct access to US payment systems, including Fed master accounts. The review could reduce reliance on intermediary banks and improve cross-border settlement by cutting correspondent-banking and settlement friction—an angle that keeps XRP and Ripple in traders’ focus.
Separately, the Senate Banking Committee approved the CLARITY Act on May 14, 2026 (15-9), moving it toward full Senate consideration. The bill aims to clarify US digital-asset classifications, separating potential securities oversight from CFTC coverage for digital commodities. The House passed its version in July 2025, and the Senate Agriculture Committee has advanced related spot-market components.
For traders, XRP market expectations hinge on two catalysts: (1) whether the Fed-access review leads to practical non-bank participation changes, and (2) whether CLARITY delivers regulatory clarity that supports institutional adoption. Until specific outcomes are signaled, price action is likely to remain headline-driven.
Bullish
This is a two-track catalyst for XRP.
In the near term, any progress toward Fed access for crypto firms would support a positive sentiment shift. If rules move from bank-only access toward mechanisms that allow more direct participation, it could lower cross-border settlement friction and make XRP-related payment flows more credible for institutions. That tends to attract momentum buying and volume spikes whenever traders perceive a path to implementation.
In the medium to long term, the CLARITY Act approval increases the odds of clearer regulatory boundaries. Better classification guidance can reduce legal uncertainty and may improve institutional risk management for digital-asset exposures. That supports a steadier longer-cycle bid rather than purely speculative trading.
However, outcomes are not immediate. The Fed review does not guarantee approval, and details matter for whether non-bank access is actually feasible. This keeps the signal bullish but potentially choppy: headline-driven rallies can fade if subsequent steps slow or face pushback.