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#Trump Administration Considers Executive Order Against Banking Discrimination
The Trump administration is reportedly weighing an executive order to stop banks from cutting services to #cryptocurrency firms.
The move would target what critics call "Operation Chokepoint 2.0"—alleged coordinated efforts to deny banking services to politically unfavorable industries.
At least 30 technology and cryptocurrency founders were reportedly denied banking access during the Biden administration.
Major U.S. banks, including #JPMorgan Chase, Citigroup, and Wells Fargo, have met with state officials to defend against service denial allegations.
The crypto industry faced significant #debanking challenges after Silicon Valley Bank, Silvergate Bank, and Signature Bank collapsed in March 2023.
Custodia Bank CEO Caitlin Long warns debanking concerns may persist until 2026 when Trump can appoint new Federal Reserve governors.
#Trump previously promised to end Operation Chokepoint 2.0 during his White House Crypto Summit speech on March 7.
