Caitlin Long, founder and CEO of Custodia Bank, said Trump's executive order on de-banking gives a broad definition of "politicized/illegal de-banking," focusing on "legitimate business activities" rather than specifically identifying cryptocurrencies or any particular industry. This means that if a business is otherwise compliant, a bank cannot refuse to serve it simply because it is a cryptocurrency company. The order targets not only cryptocurrency companies, but any legitimate companies that may face political discrimination.
At the same time, the real test of Trump's executive order to decentralise banking will be whether those banks that removed services to cryptocurrency companies will be forced to reinstate them. The success of the executive order, therefore, will depend on whether cryptocurrency companies can get the real benefits of banking services. If they reinstate us, then the executive order succeeds.
Founder of Custodia Bank: The real test of the debanking executive order is whether banks will be forced to resume services to cryptocurrency companies
2025-08-09 22:01:22
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