Trump to Sign Order Addressing Bank Discrimination Against Crypto Firms and Conservatives

The U.S. government is moving forward with an executive initiative aimed at addressing what it deems discriminatory practices by banks against crypto firms and conservative organizations. The order, according to a draft obtained by The Wall Street Journal, will mandate financial regulators to investigate cases of "debanking"—the practice of cutting off banking services—among crypto companies and politically aligned groups. The directive is expected to be signed by President Donald Trump before August 8, 2025, and will focus on potential violations of the Equal Credit Opportunity Act, antitrust laws, and consumer financial protection laws [1].

The initiative is part of a broader effort to hold financial institutions accountable for what the administration describes as biased enforcement of banking regulations. Under the proposed order, institutions found in violation could face disciplinary actions, including fines. In certain instances, the violations must be reported to the U.S. Attorney General, suggesting that legal consequences beyond regulatory penalties may be possible [1].

This move aligns with Trump’s campaign promises to end policies he criticized under the previous administration. One such policy, known as "Choke Point 2.0," was reportedly designed to limit the financial sector’s engagement with crypto firms. Supporters of this initiative argue that such policies contributed to the collapse of several banks, including Silicon Valley Bank (SVB), Signature Bank, and Silvergate Capital [1].

The executive action also addresses concerns over political debanking, particularly targeting conservative groups. The order criticizes financial institutions for actions taken in the aftermath of the January 2021 Capitol riots, where some banks severed ties with groups associated with the events. The initiative is backed by the Make America Great Again (MAGA) movement, a key faction of Trump’s political base [1].

This is not the first attempt by the Trump administration to address this issue. Similar measures were considered as early as June 2025, though they were delayed. The current draft, however, appears to have gained momentum, with reports indicating an imminent signing [1].

The move has sparked debate within financial and political circles. While supporters argue it is necessary to correct regulatory imbalances, critics warn it could lead to greater politicization of banking services. As the administration moves forward, the implications for crypto firms and politically sensitive organizations remain a subject of intense scrutiny.

Source: [1] Trump Expected to Sign Order Targeting Discrimination by Banks Against Crypto Firms (https://coinpaper.com/10366/trump-expected-to-sign-order-targeting-discrimination-by-banks-against-crypto-firms)