The first order focuses on stopping tax evasion and illegal money activities by non-U.S. individuals. Because of this, banks may tighten KYC (identity verification) rules much more. Non-U.S. crypto users could face stronger checks when moving money in or out of banks, with higher risks of account reviews or freezes.
The second order supports financial technology and crypto innovation. It asks the Federal Reserve to explore allowing crypto banks and digital asset companies direct access to payment systems and clearing services.