Trump to Challenge Biden’s Banking Policies with Crypto Debanking Probe
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President Donald Trump is expected to sign an executive order this week demanding an investigation into whether banks illegally severed ties with crypto firms and conservative groups under Biden-era policies.
The draft order, reported by The Wall Street Journal, would direct regulators to examine potential violations of financial laws, with non-compliant institutions facing fines. It also mandates a rollback of policies that led to debanking and a review of SBA lending practices.
The crypto industry has accused the Biden administration of using regulators to pressure banks into dropping digital asset clients—a claim this order seeks to address. While timing isn’t final, the move signals Trump’s push to unwind perceived anti-crypto policies.
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