Trump plans to sign an executive order to prevent Crypto Assets companies from being de-banked.

On August 5, according to reports, President Trump is preparing to sign an executive order targeting Financial Institutions for de-banking practices against businesses and individuals, including Crypto Assets companies.

According to a draft executive order seen, aimed at addressing discrimination against Crypto Assets companies and conservatives, it threatens to impose fines on banks that cut off customer relationships for political reasons and to take consent orders or other disciplinary actions. Reportedly, the executive order also directs regulators to investigate whether any Financial Institution has violated the Equal Credit Opportunity Act, antitrust laws, or the Consumer Financial Protection Act. However, the executive order does not name any companies. Insiders say the executive order could be signed as early as this week.

"Debanking," also known as Operation Choke Point 2.0, refers to the targeted actions aimed at cutting off Crypto Assets and other businesses from financial services, in the context of the Biden administration's increased regulatory efforts in recent years. "Operation Choke Point 1.0" was an initiative launched by the U.S. Department of Justice in 2013, aimed at limiting banking services to industries deemed to have a high risk of fraud, such as payday loan companies and gun dealers.

According to reports, in recent months, major banks have updated relevant policies and met with the Republican Attorney General, indicating that they would not discriminate based on political positions, aiming to seize the federal initiative. During Trump's administration, the Federal Reserve, the Office of the Comptroller of the Currency (OCC), and the Federal Deposit Insurance Corporation (FDIC) have committed to no longer considering "reputational risk" when assessing banking customer relationships.