Trump Signs Executive Order Prohibiting Debanking of Crypto Industry

U.S. President Donald Trump has signed an executive order aimed at preventing banks from denying services to cryptocurrency companies, marking a significant shift from the Biden administration's restrictive policies. The order, titled "Fair Banking for All Americans," directs federal banking regulators to adopt measures against "politicized or unlawful debanking," explicitly citing the digital assets industry as a victim of unfair targeting.

The move aligns with Trump's 2024 campaign promises to support crypto innovation. In a parallel development, the White House also approved crypto investments in 401K retirement plans and nominated pro-crypto economist Stephen Miran for a Federal Reserve board vacancy. These actions collectively signal a regulatory thaw for digital assets.

Sources indicate the order seeks to dismantle what critics call "Operation Chokepoint 2.0"—alleged Biden-era efforts to choke off banking access for crypto firms. The TRUMP administration appears poised to accelerate its pro-crypto agenda through both policy and personnel decisions.