President Donald Trump is gearing up to sign an executive order to end crypto debanking.
Since assuming office on January 20, President Donald Trump has already signed two crypto executive orders: one to establish a crypto working group to develop regulations and another to establish a strategic Bitcoin reserve and a digital asset stockpile. The president may now be warming up his pen for a third.
Trump Sets Sights on Crypto Debanking
President Donald Trump is gearing up to sign an executive order to roll back rules that made it difficult for crypto firms and executives to access banking services, known as crypto debanking or Operation Chokepoint 2.0.
This is according to Monday, March 10 reports citing White House officials.
It is not the first time Trump has been reported to be considering such a move. In January 2025, The Washington Post suggested that the president would attempt to tackle crypto debanking with an executive order immediately after he assumed office, citing it as a priority. However, this did not materialize.
The most recent report indicates that one of the executive order’s provisions will push for crypto banks to be granted Federal Reserve master accounts.
These accounts are critical to banks’ ability to serve customers nationwide as they offer access to Fed services like settlement and electronic transfers. However, prominent crypto banks like Custodia have long had efforts to secure these accounts rebuffed.
Custodia, for one, has taken the Federal Reserve to court over the issue.
Meanwhile, the expected crypto executive order may go beyond debanking to state that stablecoins should not be classified as securities.
Both provisions could significantly boost crypto adoption by making it easier for platforms like exchanges to provide familiar on/off-ramp services.
The recent report follows the White House crypto summit held on Friday, March 7, at which Trump met with several industry executives to discuss crypto policy.
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