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United States President Donald Trump has blamed the Biden administration for debanking crypto companies. In his statement, Trump said that the move was a “very bad and very dangerous” practice that was instigated by the Biden administration and it still remains a problem in the country. “There is a lot of debanking,” Trump said in the Oval Office on Friday evening, in response to a question from the media. “Those people are very bad and very dangerous, and they shouldn’t be doing it.” Debanking is an alleged practice where banks deny customers services based on their affiliation with industries like crypto or their political choices. Crypto industry leaders have argued that during the Biden administration, they were denied standard banking services. Conservative public figures, including Donald Trump and his family, have also made similar claims. Donald Trump blames the Biden administration for debanking Speaking about his previous experience under the tenure of former US President Joe Biden, Trump said, “I can tell you, because I’ve been a victim myself because of my politics, that big banks were very nasty to us.” He added that he feels Biden’s people were the major influence in the decision, noting that the banks were always afraid of regulations. The president said he does not blame the big banks for such practices, noting that it was the fault of federal agencies overseeing the industry. “I’ve seen the biggest banker, I can tell you—you see him on television all the time. If a regulator walked into the room, he gets all nervous and crazy,” Trump said. “The regulators control the banks. It’s not the president of the bank. The president of the bank is far less important to a bank than a regulator, and a regulator can put that bank out of business.” Trump was asked…

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Filed under: News - @ June 28, 2025 11:28 am