Trump to Punish Banks That Reject Bitcoin Companies
President Trump plans to sign an executive order penalizing banks that deny services to Bitcoin and crypto businesses.
- Trump to sign executive order targeting anti-crypto banks.
- Order aims to protect Bitcoin and crypto companies’ access to banking.
- Move signals strong federal support for the crypto industry.
Trump’s Executive Order Backs Crypto Banking Rights
In a major policy shift, former President Donald Trump is reportedly set to sign a new executive order that would punish banks for refusing to serve Bitcoin and cryptocurrency-related businesses. This bold move aims to dismantle ongoing financial discrimination against crypto companies in the U.S.
According to early reports, the order will enforce consequences on financial institutions that intentionally block or restrict services to legal crypto firms. This includes crypto exchanges, wallet providers, and mining operations — all of which have faced barriers to traditional banking access for years.
Protecting Bitcoin Businesses from Financial Discrimination
Trump’s decision comes amid growing frustration within the crypto industry about being “debanked” by legacy financial institutions. Some banks have reportedly closed or refused accounts simply because a business is involved in digital assets — despite those businesses operating within legal frameworks.
The Trump crypto executive order would mark one of the strongest pro-crypto policy moves at the federal level. Supporters see this as a step toward fair treatment of blockchain innovators, while critics raise concerns about how such an order would be enforced without overstepping regulatory oversight.
A Political Signal with Industry Implications
Trump’s stance is clearly aimed at strengthening his support among crypto enthusiasts and tech-forward voters ahead of the 2024 election. More importantly, this executive order could reshape how traditional financial institutions approach the crypto industry, potentially forcing a more open and competitive environment.
If signed and implemented, it may lead to improved banking access for thousands of crypto startups — potentially accelerating U.S. leadership in blockchain innovation.
Read Also:
- Kevin Hassett Emerges as Frontrunner for Fed Chair
- Stablecoin Transfers Top $50 Trillion in a Year
- BlackRock Transfers $390M in Bitcoin to Coinbase Prime
- Polymarket Gets CFTC Nod for U.S. Market Expansion
- Texas Becomes First U.S. State to Invest in Bitcoin
