PANews August 8 news, according to The Block, on Thursday, U.S. President Trump signed an executive order aimed at preventing federal regulators from targeting financial institutions that have business dealings with the cryptocurrency industry. The White House briefing stated that the digital asset industry has become an unfair target of 'de-banking' practices, which undermine public trust in banks and regulatory agencies, affect livelihoods, freeze wages, and impose a heavy economic burden on law-abiding Americans. The order removes 'reputational risk' as a reason for regulatory tightening, although it does not specifically refer to cryptocurrencies, it has been used against the industry in the past. Previously, cryptocurrency companies and individuals complained about unfair account closures by banks, and Trump promised to terminate 'Operation Choke Point 2.0.' After Trump signed the order, he received support from Republican lawmakers. House Financial Services Committee Chairman French Hill called it an important step, and Senator Cynthia Lummis also praised the order for bringing transparency and accountability to the industry.
