According to a presidential order, the agency needs to update regulations to improve the integration of digital assets into traditional financial services. The Fed is also required to remove provisions that might be "overly burdensome." Additionally, Trump directed them to clarify whether the 12 Federal Reserve Banks have the legal authority to independently grant or deny access to payment accounts and services. The new Fed Chairman, Kevin Warsh, has invested in dozens of crypto projects and considers BTC the "new gold" for people under 40. At the same time, Truth Social, owned by Trump, withdrew an application to create a BTC-ETF and a joint BTC and ETH ETF.