Bitcoin 
Ethereum 
Tether 
BNB 
Solana 
XRP 
USDC 
Lido Staked Ether 
Cardano 
Avalanche 
Trump’s executive order on crypto is making headlines after its bold attempt to protect digital asset companies.
The executive order, signed on August 7, stops federal agencies from pressuring banks to cut off crypto firms. It bans regulators from using “reputational risk” as an excuse to deny financial services to legal businesses.
Crypto companies have long claimed they face hidden discrimination. Despite complying with laws, many report sudden account closures and banking issues. These disruptions have affected payroll systems and critical financial operations. Trump’s move directly addresses these complaints, targeting what insiders call “Operation Choke Point 2.0.”
This unofficial term refers to backdoor efforts by regulators to limit crypto’s access to traditional finance. The name echoes a 2010s-era initiative that restricted industries like firearms and payday lending. That previous campaign faced criticism for its opaque practices and overreach. Now, the same tactics appear aimed at crypto firms.
Crypto community welcomes move as overdue correction
Many in the industry are calling this order a necessary step. Industry leaders and pro-crypto lawmakers have argued for months that these practices stifle innovation. Without clear protections, companies find it harder to scale, attract investment, or offer reliable services.
Since early 2023, unexplained “debanking” has hit several US crypto startups. Vague accusations of risk—not actual violations—led banks to sever ties. These actions have created fear and uncertainty. Trump’s executive order seeks to change that by ensuring regulators stick to the law, not opinions or political trends.
This policy aligns with actions taken by major regulators like the Federal Reserve and the FDIC. They’ve recently clarified that banks should not base decisions on image or industry bias. The Office of the Comptroller of the Currency also pledged to evaluate crypto businesses fairly.
ANOTHER MUST-READ ON ICN.LIVE: Ethereum $4,000 retest gains momentum amid capital inflows and market dominance shift
Trump’s executive order on crypto may reshape financial access
The executive order could become a turning point for the digital asset space. It may increase investor confidence and provide a stable ground for startups. In Congress, lawmakers are also working on legislation to restrict biased regulatory practices across emerging sectors.
The order shows a larger intent by the Trump administration to build a fairer ecosystem. It positions the US as a more welcoming place for crypto innovation, something critics say has been lacking in recent years.
The timing is critical. Global competitors are racing to create crypto-friendly frameworks. If US firms continue to face financial discrimination, they might move abroad. This executive order aims to stop that and restore credibility to US financial regulation.
