Trump to End Crypto Firms’ Banking Barriers, Reports Suggest

US President Donald Trump is set to sign an order aimed at removing barriers for crypto companies to access banking services, according to Decrypt, citing sources.

In the community, the alleged plot by Joe Biden’s administration to debank industry players has been dubbed “Operation Chokepoint 2.0.”

Bo Hines, Executive Director of the Digital Asset Markets Working Group, confirmed the development of measures but did not disclose any details.

“I think the industry can expect something soon,” he stated.

The official also reiterated that the Trump administration intends to end all practices related to “Operation Chokepoint 2.0.”

One source told the publication that the order is likely to affect the Federal Reserve’s policy on master accounts. These accounts provide access to the central bank and enable direct payments.

During Biden’s presidency, the Fed refused to open master accounts for companies focused on the crypto industry, such as Custodia, effectively stifling their growth.

However, the central bank formally remains an independent body, and the executive branch has no direct leverage over its decisions. Rumors suggest that senior White House officials plan to discuss potential legal obstacles to preparing the order at an upcoming meeting.

An administration representative denied this information but confirmed that the process to end “Operation Chokepoint 2.0” has begun.

According to the publication’s sources, the order may extend beyond banking-related issues. Among its other provisions, it is expected to include a rule that dollar stablecoins should not be considered securities.

Back in March 7, a crypto summit at the White House with Trump disappointed investors due to the lack of specifics in the government’s plans for the industry.