Trump attacks banking practices except players in the crypto sector
Donald Trump plans to sign the presidential decree for the protection of crypto companies and other entities listed in the bank exclusion. The text shall order the regulators to investigate banks and sanction those that violated the law by closing accounts for political reasons.
In short
- Trump plans to sign the presidential decree for the protection of crypto companies and individuals aimed at excluding banking.
- This text would order regulatory bodies to explore the discriminatory practices of banks and from political reasons sanctioning the wine institutions.
- This initiative is part of the desire to end what many call “Operation Choke Point 2.0”
Trump: Support of Krypto companies
The President of the United States, Donald Trump, plans to sign the presidency to prevent banks from rejecting their services to enterprises or individuals for political reasons. This text includes players in the crypto sector, often by these exclusions.
The proposal of the Decree requires regulatory bodies to verify that some banks have violated laws, such as the Act on Equal Credit Opportunities, Antimonopoly Laws or Consumer Protection Rules. Faulty banks could face sanctions, including fines or disciplinary measures.
According to The Wall Street Journal, the aim of this decree is also to suppress the internal policies that have facilitated these bank exclusion.
Regulatory bodies such as FDIC, occurrence or federal reserve system that they will no longer need to require “risk of reputation” when evaluating relationships between banks and customers.
This text is part of the political desire to restore a neutral framework for access to financial services, regardless of legal activities. Obviously, the bank will no longer be able to exclude the customer simply because it operates in the crypt or expresses certain political views.
End of Choke Point 2.0 Operation
This decree means the official end of what the crypto sector called “Choke Point 2.0”. In fact, there were several Web3 companies in Biden administration. They brought back cuts from the banking service without specific justification.
These practices were often hidden behind the arguments of conformity. They were perceived as a form of indirect pressure against crypto innovation. As a result, Trump ordered federal agencies to remove all internal instructions that would probably support this type of exclusion.
Small Business Administration (SBA) will also have to review their partnership. The aim is to identify any form of discrimination in the allocation of credits to crypt companies or other targeted sectors.
Several banks have already begun to revise their policy internally. Some have encountered Republican generals to make sure they will not exceed any red regulatory line.
Trump is now asserted as a protector of the crypto sector. At the beginning of 2025 he signed another decree and created a strategic reserve of bitcoins and national cryptocurrencies. He also ruled out any Central Bank’s digital currency project (CBDC) and stated that this would endanger individual freedoms. With this new decree, it would permanently form the future of the sector in the United States.
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Teacher and IT engineer, Lydie discovered Bitcoin in 2022 and plunged into the world of cryptocurrencies. It populates complex items, decrypt web3 challenges and prevents the vision of open, inclusive and decentralized digital.
Renunciation
The words and opinions expressed in this article are involved only by their author and should not be considered investment counseling. Do your own research before any investment decision.