Trump Prepares Executive Order to Curb Banking Discrimination Against Crypto Firms

U.S. President Donald Trump is set to sign an executive order condemning financial institutions for discriminatory practices against cryptocurrency companies. The directive will mandate regulators to probe potential violations of equal credit opportunity, antitrust, and consumer protection laws. Banks found guilty could face fines or disciplinary measures, while the Small Business Administration will scrutinize credit applications more closely.

The order, expected as early as this week, aims to prevent banks from cutting ties with clients based on political views or reputational risk assessments. It specifically addresses concerns over 'Operation Choke Point 2.0,' a perceived revival of the 2013 initiative that restricted banking access for certain industries. Federal agencies including the Fed, OCC, and FDIC have pledged to monitor compliance with these new guidelines.