The White House, or the administrative branch of the US federal government, is responsible for federal policies.
US Congress, or the legislative branch, is responsible for making laws.
General public financial services including payment processing are under Congressional oversight.
Progressive Democrats and Independents in the House of Representatives have been proposing regulations for years and years because its their job to deal with the nation’s banks. Congress created the FDIC. It reports to Congress. Payment processors are essentially supplements to banks and credit unions.
Conservatives in both major parties typically resist regulations that protect regular citizens and small businesses, so it’s not believable they suddenly care about anything but interfering with accountability for their own businesses.
This executive order reads yet like another of Donald Trump’s attempts to pretend that he represents all three branches. He kind of does with how Congress and the Supreme Court are sucking up to him; but letting him overthrow the US Constitutional government has its own problems for us within the masses, you know?