The post Trump to Issue Executive Order Shielding Crypto Firms From Debanking: WSJ appeared on BitcoinEthereumNews.com.

In brief Trump is reportedly planning to sign an order as early as this week protecting crypto companies and conservatives from certain alleged banking practices. The order directs banking regulators to examine violations of equal credit laws and consumer protection regulations, with banks facing financial penalties and enforcement actions. The order targets “Operation Chokepoint 2.0” allegations and could change Federal Reserve policies on banking access for crypto firms. President Donald Trump is preparing to sign an executive order as early as this week that would shield cryptocurrency companies and conservative organizations from alleged discriminatory banking practices. The proposed order would instruct banking regulators to examine potential violations of equal credit laws, antitrust statutes, and consumer protection regulations in cases where financial institutions terminated customer relationships, according to a Wall Street Journal report citing administration sources. Decrypt first reported in March that Trump planned to sign a crypto-related executive order targeting Biden-era policies that made banking difficult for digital asset companies, though those initial plans were temporarily shelved.  The move represents Trump’s most significant regulatory response to what critics have dubbed “Operation Chokepoint 2.0,”  the alleged systematic denial of banking services to crypto companies and politically conservative customers during the Biden administration.  Banks found in violation could face financial penalties and regulatory enforcement actions, according to the draft order reviewed by WSJ. The proposed order references incidents, including Bank of America’s decision to close accounts of a Christian organization in Uganda, which the bank said was due to its policy against serving small overseas businesses.  The measure also addresses banks’ role in providing information during the January 6, 2021, Capitol riot investigations. Trump has personal experience with banking discrimination, telling Decrypt in June that “big banks were very nasty to us” during Biden’s presidency.  “The regulators control the banks,” the…

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Filed under: News - @ August 5, 2025 6:23 pm