The Trump administration is considering an executive order aimed at preventing banks from denying services to politically unfavorable industries, particularly cryptocurrency firms. This movement appears to counter allegations of a coordinated campaign known as 'Operation Chokepoint 2.0,' where banks reportedly refused services to tech and crypto entrepreneurs. Notable figures, including Democratic Senator Elizabeth Warren, have criticized major banks for denying services based on political beliefs or industry affiliations. The issue gained traction after the collapse of three crypto-friendly banks, which some insiders labeled a coordinated effort to 'unbank' the cryptocurrency sector. Despite the potential for a more supportive regulatory environment under Trump, experts suggest that concerns about debanking may persist, pointing to unresolved tensions between the OCC, FDIC, and the Federal Reserve regarding crypto guidance. Trump has publicly expressed a commitment to ending these debanking efforts, as evidenced during a recent speech.

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