The Trump administration is preparing an executive order to stop banks from discriminating against Bitcoin and digital asset firms, aiming to permanently end what critics have called “Operation Chokepoint 2.0.” This comes after the US Federal Reserve’s recent decision to eliminate ‘reputational risk’ from its bank oversight framework — a controversial metric previously used to justify cutting off banking access for more than 30 Bitcoin and fintech companies following the collapse of Bitcoin-friendly banks in 2023.
The move has been welcomed by both the industry and lawmakers. Senator Cynthia Lummis described the old policy as one that “assassinated American Bitcoin and digital asset businesses” and praised its removal as a significant win for innovation.
While Donald Trump has consistently positioned himself as pro-Bitcoin, industry experts caution that lingering debanking risks may continue until 2026, when new Federal Reserve governors could further shift the regulatory stance. Still, the recent changes mark a clear pivot in Washington towards more equitable treatment of Bitcoin businesses, setting the stage for renewed banking access and broader financial integration.
