Trump Plans to Sign Executive Order Ending Biden-Era Crypto Debanking
The order will likely seek to explicitly roll back the rules and regulatory initiatives associated with “Operation Chokepoint 2.0,” an alleged Biden administration plot to deny banking services to crypto companies and executives, sources said
President Donald Trump plans to sign another cryptocurrency-related executive order, possibly as soon as this week, that takes aim at anti-crypto policies of the Joe Biden administration that made it difficult for company companies to obtain banking services, sources familiar with the matter told Decrypt.
The order will likely seek to explicitly roll back the rules and regulatory initiatives associated with “Operation Chokepoint 2.0,” an alleged Biden administration plot to deny banking services to crypto companies and executives, sources said.
When asked, the White House's Presidential Working Group on Digital Assets Executive Director Bo Hines confirmed the executive order is in the works but would not elaborate. “I think that the industry can expect something in short order there,” Hines told Decrypt.
Hines also reiterated that the Trump administration is committed to ending all practices associated with Operation Chokepoint 2.0—a phrase coined by Castle Island Ventures partner Nic Carter, borrowing from the Barack Obama-era Operation Choke Point that targeted payday lenders and firearm dealers.
