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The White House is preparing an executive order that would penalize banks for discriminating against crypto firms or dropping customers for political reasons. This move marks a shift from previous Biden-era banking oversight, with the Trump administration positioning itself as a protector of crypto interests. Banks argue their actions are based on regulatory risks, but critics see bias against decentralized finance.
- The executive order targets banks that discriminate against crypto firms or politically debank customers, with potential fines and regulatory penalties.
- High-profile cases include JPMorgan closing accounts of crypto executives like Coinbase's Brian Armstrong and Frax Finance's Sam Kazemian.
- The Trump administration's stance contrasts with Biden-era policies, signaling a shift toward protecting crypto interests against alleged banking bias.
📎 Related coverage from: cryptopotato.com