Trump Signs Executive Order to Stop Financial Discrimination Against Crypto Companies and Conservatives

President Donald Trump issued a sweeping executive order on August 7, 2025, targeting debanking practices that have disproportionately affected cryptocurrency firms and conservative groups. The order mandates federal banking regulators to eliminate "reputation risk" guidelines within 180 days—a move long sought by crypto businesses claiming the vague standard was used to deny them services.

Banking institutions now face scrutiny for potential political bias, with regulators required to complete investigations within 120 days. Penalties may follow for banks found discriminating against customers based on lawful business activities or ideological affiliations. This policy shift could significantly improve banking access for digital asset companies that struggled under previous administrations.