Trump Signs Executive Order to Prevent Crypto Discrimination by Banks

President Donald Trump has taken decisive action to protect the cryptocurrency industry from banking discrimination. An executive order signed on August 7 mandates federal regulators to halt bias against legal crypto businesses and individuals based on "reputational risk." The order also requires Wall Street regulators to investigate past or present debanking practices targeting crypto firms.

This move directly addresses concerns over Operation Choke Point 2.0—an alleged coordinated effort to exclude crypto entities from the banking system. Banks found discriminating against conservative groups or crypto affiliates now face potential fines and disciplinary measures. The administration's proactive stance signals growing institutional recognition of digital assets' legitimacy in the financial ecosystem.