The post Trump Signs Executive Order to Stop Financial Discrimination Against Crypto Companies and Conservatives appeared on BitcoinEthereumNews.com.

The order, titled “Guaranteeing Fair Banking for All Americans,” targets a practice called “debanking” that has affected crypto companies and conservative groups. President Donald Trump signed a major executive order on August 7, 2025, that aims to stop banks from cutting off customers based on their political beliefs or business activities. What Is Debanking? Debanking happens when banks close customer accounts or refuse services without clear reasons. The executive order defines it as banks restricting access to accounts, loans, or other financial services based on customers’ political or religious beliefs, or lawful business activities the bank disagrees with. Many crypto companies have complained about losing banking services during the Biden administration. Conservative groups have also said banks targeted them for their political views. The Trump administration claims this practice violates Americans’ rights to fair treatment in the financial system. Key Rules in the New Order Source: @WhiteHouse The executive order sets strict deadlines for banking regulators to make changes: Removing “Reputation Risk” Rules: Within 180 days, all federal banking regulators must remove guidance that allows banks to consider “reputation risk” when deciding whether to serve customers. Crypto companies argue this vague concept was used to deny them services. Investigating Past Actions: Banking regulators have 120 days to review whether financial institutions engaged in political discrimination. Banks found guilty could face fines, legal agreements, or other penalties. Reviewing Religious Discrimination: Regulators must check their records for cases where banks discriminated based on religion. These cases will be sent to the Attorney General for possible legal action. Bringing Back Old Customers: The Small Business Administration must require banks under its oversight to find and restore customers who were unfairly denied services. These banks have 120 days to complete this task. Background of the Problem The order references government surveillance programs after January…

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Filed under: News - @ August 8, 2025 11:25 pm