worldcoinindex.com
President Donald Trump is preparing to sign an executive order aimed at protecting cryptocurrency companies and conservative organizations from being denied access to banking services based on political or ideological grounds. The action could come as soon as this week, according to sources familiar with the administration's internal planning.
The draft order instructs banking regulators to investigate financial institutions that may have violated equal credit laws, antitrust rules, or consumer protection regulations when cutting ties with certain clients. It represents Trump’s most direct regulatory pushback against what critics have dubbed “Operation Chokepoint 2.0” — an alleged Biden-era crackdown that made it more difficult for digital asset firms and right-leaning organizations to access banking services.
According to a reviewed draft, banks found to have engaged in politically motivated account closures could face penalties or enforcement actions. One case cited in the document includes Bank of America's decision to terminate services to a Christian charity operating in Uganda, which the bank said conflicted with its policy against small overseas businesses.
The order also addresses banks’ cooperation in the January 6 Capitol investigation, arguing that federal pressure—not internal bank policies—often drove decisions to sever relationships with certain clients. Trump himself cited personal examples of banks distancing themselves during Biden’s presidency, stating, “The regulators control the banks.”
Under the proposed order, federal agencies would be required to dismantle internal policies that enable so-called debanking, while the Small Business Administration would reevaluate its partnerships with banks accused of discrimination. Violations could be referred to the Department of Justice for further legal action.
The order would also require regulators to assess how the Federal Reserve is managing access to key banking infrastructure for cryptocurrency companies—a long-standing issue in the digital assets sector.
In response to political scrutiny, some banks have reportedly updated their internal policies to explicitly ban discrimination based on political views and are actively cooperating with GOP state officials to ensure compliance.
Meanwhile, legal battles continue over transparency. Coinbase is still seeking the release of internal documents that allegedly expose coordinated efforts by regulators to limit banking access for crypto firms. Despite court orders, the FDIC has been slow to comply, although it has already released several documents that suggest a discouragement campaign against digital asset companies.
If implemented, the executive order could mark a turning point in the debate over financial access for politically controversial entities. But legal experts have raised concerns about the order’s durability. Since political affiliation is not a protected class under current anti-discrimination laws, courts may view this action as presidential overreach, potentially creating new obligations for banks without congressional approval.
Critics warn that without legislative backing, the order might blur legal lines and introduce unintended risks. Others argue that even with federal pressure, banks may still find ways to limit relationships with high-risk or politically charged clients.
While the outcome remains uncertain, the move signals that access to financial infrastructure is becoming an increasingly politicized battleground—especially for crypto companies and conservative groups navigating a complex regulatory landscape.