Trump Signs Executive Order to Block Politicised Debanking — Includes Crypto Industry Protections President Donald J. Trump has signed an Executive Order prohibiting banks from denying services based on political or religious beliefs, or lawful business activities — a move that directly names the digital asset sector as a past target of unfair debanking. The order: ●
Removes “reputational riskˮ as a regulatory justification for account closures.
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Requires banks to reinstate clients previously debanked for political or religious reasons.
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Orders regulators to review past debanking cases and take corrective action.
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Directs Treasury to develop a long-term strategy to prevent politicised debanking.
Why it matters for crypto: Crypto firms have long struggled with banking access under what the previous US administration called Operation Chokepoint 2.0. The current White House says this policy has now been dismantled, aiming to give exchanges, payment processors, and service providers equal access to the financial system. The impact of this order now hinges on how aggressively regulators enforce the reinstatement mandate — and whether banks adjust risk policies in favor of broader crypto access.