Trump Plans Executive Order to Reverse Biden-Era Crypto Banking Restrictions

In Brief

Trump’s upcoming executive order aims to reverse anti-crypto banking policies from the Biden administration.

The order may impact Federal Reserve policies and redefine stablecoin regulations.

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President Donald Trump is preparing to sign a new executive order aimed at dismantling Biden-era banking policies that restricted financial services to crypto companies, sources told Decrypt.

The order is expected to explicitly reverse “Operation Chokepoint 2.0”, a term coined by Castle Island Ventures partner Nic Carter, describing regulatory actions that allegedly denied banking services to crypto firms.

Targeting the Federal Reserve and Stablecoin Regulations

While the Federal Reserve operates independently, the order may challenge its policies on master accounts—a crucial service that was denied to crypto banks like Custodia under Biden’s administration. Allowing crypto-focused banks access to the Fed would mark a major win for the industry.

Additionally, the order could state that stablecoins should not be considered securities, providing regulatory clarity for issuers like Tether and Circle.

Trump’s Pro-Crypto Agenda Gains Momentum

This would be Trump’s third crypto-related executive order since returning to office. Previous orders included:

1. Establishing the Presidential Working Group on Digital Asset Markets.
2. Creating a U.S. Bitcoin reserve and a separate digital asset stockpile.

As crypto policy takes center stage, Trump’s administration is moving swiftly to reshape digital asset regulations and position the U.S. as a global leader in crypto finance.

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