Crypto companies in the US are still losing access to banking services despite recent political support.
- Crypto firms report ongoing bank account closures with no explanations.
- Trump plans executive order to stop unfair debanking practices.
- Experts say real change depends on new rules becoming law.
Crypto Firms Continue to Face Banking Roadblocks
Many crypto companies in the US are getting their bank accounts shut down without warning. This makes it hard for them to manage money, pay employees, and grow their business. Companies like Unicoin say they were dropped by major banks such as Citibank, Chase, and Wells Fargo. No reasons were given for the closures.
Experts Warn of a Coordinated Effort
Some experts believe this is part of a larger effort to limit crypto’s growth. Alex Rampell of Andreessen Horowitz described it as “Operation Chokepoint 3.0.” He says big banks are making it harder for crypto apps to move money or access user data.
Trump Plans Action Against Debanking
President Donald Trump is expected to sign an executive order to stop unfair debanking. The order would force federal agencies to track complaints and punish banks that wrongly close accounts. It may also help affected companies reopen their accounts.
The Legal Fight Over Crypto Isn’t Over
However, legal experts say real change depends on rules being made into law. Elizabeth Blickley, a lawyer at Fox Rothschild, said that writing good laws takes time and the right wording. Some bills may never pass, and others might face legal challenges.
The Industry Waits for Clear Regulations
Until new laws are in place, most banks will remain cautious. They are unlikely to work with crypto firms unless the risks are clearer. Blickley said, “It’s all about making risk-averse entities and people feel like crypto is less of a risk.”
Source: cointelegraph.com
