President Donald Trump has taken a bold step against discrimination in the banking sector by signing an executive order to stop so-called debanking — the denial of financial services based on political or religious beliefs or involvement in lawful businesses like cryptocurrencies.

This move is seen as part of his administration’s broader promise to defend free speech, financial access, and fairness within the U.S. financial system.

“Fair Banking for All”: Trump Targets Politicized Financial Discrimination

Trump signed an executive order titled “Ensuring Fair Banking Access for All Americans”, which prohibits banks and federal regulators from denying services based on ideology, religion, or legal commercial activity.

The order instructs regulators to abolish internal guidelines and practices that allowed politically motivated account closures, wage freezes, or payment blocks. It also aims to eliminate the concept of “reputational risk” as a legitimate reason in banking decisions.

According to the White House, examples of past abuses include:

🔹 A major bank refusing to process ticket sales for a Republican event until public backlash,

🔹 Flagging transactions containing “Trump,” “MAGA,” or companies like Bass Pro Shop as suspicious,

🔹 Two major banks allegedly refusing services to Trump’s own business.

Trump commented:

“Banks are afraid of the radical left, so they discriminate against conservatives and people of faith. I know the banking system better than anyone — and I won’t let them keep doing this.”

The order also mandates that regulators audit institutions for past or ongoing violations, remove problematic policies, and take corrective action where needed — including penalties or consent decrees. Religious-based debanking cases must be referred to the Attorney General.

The Small Business Administration (SBA) is tasked with urging financial institutions under its oversight to restore services to clients who were previously deplatformed for ideological reasons.

Second Executive Order: 401(k) Access Opens Up to Crypto

Trump also signed a second executive order titled “Democratizing Access to Alternative Assets for 401(k) Investors”, which allows over 90 million Americans in the private sector to invest in alternative assets — including digital assets like cryptocurrencies.

Until now, such investment options were mostly reserved for government employees or institutional investors. Now, private workers will also be able to diversify their retirement portfolios with modern financial instruments.

According to David Sacks, Trump’s advisor on AI and crypto:

“This change gives over 90 million American workers the same access to alternative assets as public-sector employees — improving returns and diversification.”

The White House added that the move is meant to level the playing field between public and private sectors and offer Americans more tools for long-term financial security.

Crypto Community Celebrates: Ending Structural Barriers

Crypto advocates hail both executive orders as a major victory for the industry, which has long struggled to gain access to traditional financial infrastructure.

The White House stated:

“No American should be denied financial access based on their political or religious beliefs. Investment opportunities should not be constrained by outdated rules or unfair limitations.”


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