The Trump administration is reportedly contemplating an executive order to prevent banks from denying services to politically sensitive sectors, including cryptocurrency firms. This follows claims that banks have engaged in a coordinated effort, termed 'Operation Chokepoint 2.0,' to debank tech and crypto entrepreneurs. During Biden's presidency, over 30 founders faced banking service denials. Major banks like JPMorgan Chase and Citigroup have defended their practices against accusations of refusing service to industries like gun manufacturing and fossil fuels. Senator Elizabeth Warren has urged action against banks for politically motivated service denials, emphasizing that access to banking should not be influenced by personal beliefs or backgrounds. The US banking sector faced turmoil in March 2023 with the collapses of Silicon Valley Bank and Silvergate Bank, which some view as part of the debanking strategy against crypto. Despite a more favorable regulatory environment under Trump, concerns about debanking may continue until 2026, as highlighted by industry leaders. Read more AI-generated news on: https://app.chaingpt.org/news