Changpeng Zhao Says US Banks Can No Longer Restrict Crypto
The post Changpeng Zhao Says US Banks Can No Longer Restrict Crypto appeared on BitcoinEthereumNews.com.
Key Notes Binance founder CZ called the proposed order a major breakthrough for US crypto policy. CZ stated it could help end US correspondent banks’ historical practice of blocking fiat transactions related to crypto. The order follows increased scrutiny over crypto-related debanking, such as Gemini’s claims against JPMorgan. Binance founder Changpeng Zhao praised the latest White House executive order under consideration, which seeks to prevent banks from taking an anti-crypto stance. Zhao stated that the United States has achieved a major breakthrough in its crypto policy. According to the new directive, banks could face stricter fines for having a bias against crypto. Changpeng Zhao Praises White House Order to Embrace Crypto The White House is preparing an executive order aimed at cracking down on banks that discriminate against crypto firms. According to the latest initiative led by the Trump administration, banks adopting debanking practices against crypto firms could face heavy financial penalties. In the latest development, crypto exchange Gemini accused JPMorgan of preventing them from the re-onboarding process. Some industry observers view the move as the most significant policy development since the approval of spot Bitcoin ETFs. Veterans like Changpeng Zhao also believe that this could pave the way for broader institutional participation in the crypto space. Binance founder also praised the move, stating that banks would no longer be able to sideline crypto firms. It used to be that corresponding banks in the US block transactions involving crypto (fiat for buying crypto). This opens banking for crypto internationally. https://t.co/yv5nm3fq7X — CZ 🔶 BNB (@cz_binance) August 5, 2025 If the White House proceeds with the executive order, banks that cut off customers for political reasons could face penalties. The order would require financial regulators to investigate whether institutions have breached the Equal Credit Opportunity Act, antitrust laws, or consumer protection statutes.…
Filed under: News - @ August 5, 2025 11:24 am