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- 🎉 Hey Gate Square friends! Non-stop perks and endless excitement—our hottest posting reward events are ongoing now! The more you post, the more you win. Don’t miss your exclusive goodies! 🚀
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Trump Signs Executive Order to Prevent Crypto Debanking - Unchained
The crypto community celebrated another major executive order signed by President Trump on Wednesday — this one officially cementing the end of Operation Chokepoint 2.0.
The “Fair Banking for All Americans” order instructs regulators to remove “reputational risk” considerations from supervisory handbooks and bank oversight.
That was a key feature of earlier federal guidance, which had targeted banks serving so-called high-risk industries, associated with Operation Chokepoint 2.0, a Biden-era series of informal regulatory actions that pressured banks into denying services to crypto businesses.
This story is an excerpt from the Unchained Daily newsletter.
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The White House said in Wednesday’s executive order that the current administration had already ended Operation Chokepoint 2.0, and called for a retroactive review of complaints and bank supervisory records to identify cases of debanking based on protected beliefs.
“You do not need to take sides with Trump to see the signal: when even a former president says he cannot move a billion dollars into a bank, institutional trust fractures,” said Andrei Grachev, Managing Partner at DWF Labs, in a statement to Unchained.