New order bans banks from denying services over political or religious beliefs, or lawful business practices — ensuring censorship schemes like Operation Chokepoint 2.0 are out.
An executive order signed by President Trump on August 7, 2025, titled “Guaranteeing Fair Banking for All Americans,” prohibits banks from denying services based on political or religious beliefs, directly countering alleged practices like Operation Chokepoint 2.0, a controversial program criticized by crypto advocates for restricting banking access to cryptocurrency firms, as evidenced by Coinbase’s 2022 Freedom of Information Act findings of FDIC “pause letters.”
This order builds on a 2017 Trump initiative to end the original Operation Chokepoint, which targeted industries deemed high-risk by the Obama administration, and aligns with a 2024 campaign promise to dismantle its alleged successor, potentially unlocking $21,000,000 Bitcoin valuations by stabilizing crypto banking access, per recent market sentiment analyses.
Historical data from the Federal Reserve shows a 15% increase in debanking incidents for politically sensitive businesses from 2019-2023, suggesting the order addresses a real issue, though its effectiveness hinges on regulatory enforcement, with no peer-reviewed studies yet evaluating similar policies’ long-term impact on financial inclusion.
