🤑🍋🔥On his first day back in the White House, President Donald Trump made waves by rescinding 78 of Joe Biden’s executive orders. But there was one surprising exception: Executive Order 14067, which has been widely criticized as being repressive against crypto and is linked to what many are calling “Operation Choke Point 2.0.”🎁💥💰
For those unfamiliar, this executive order is seen as giving US regulators the power to restrict crypto companies’ access to banking services, which contributed to the collapse of crypto-friendly banks like Silvergate and Signature Bank.
What shocked many in the crypto world was Trump’s decision not to repeal it. This comes after his harsh criticism of the executive order at the Bitcoin 2024 conference, where he promised to repeal it if he returned to power.
🎁Why the change?🎁🎁🎁
Critics, such as analyst Adam Cochran, have expressed their outrage, questioning whether Trump intends to continue resisting “Operation Choke Point 2.0” or whether he is deprioritizing crypto in favor of other issues. Trump’s silence on the issue has left many in the industry confused.
Regulators, in turn, argue that these measures are necessary to protect the banking system. However, crypto advocates argue that this is a deliberate effort to undermine the industry, leaving crypto companies without necessary banking services and creating uncertainty in the sector.
💰💰💰💰The main question💰
As crypto-friendly banks continue to disappear under pressure from regulators, the community is left wondering: Will Trump keep his promise to fight against “Choke Point 2.0,” or has his stance changed?
💥💥💥For now, the industry remains in limbo, waiting to see if the president will take action — or leave Biden’s crypto policies unchanged.💥💥💥
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