The White House is preparing a new executive order that may impose fines on banks for discriminating against crypto companies. This could create new opportunities for crypto firms and change the rules around banking access.
New Executive Order: What Would it Change?
Reports suggest that U.S. banks may face penalties for discriminating against crypto firms. The order, rumored to be signed by President Trump, aims to increase banking service levels for cryptocurrency companies. Regulators will review for violations of fair lending laws and antitrust statutes. Institutions found guilty of discrimination could face fines or other disciplinary measures.
Why Crypto Investors See It as a Game-changer
Crypto community members express optimism regarding the upcoming order, noting that its enactment could lead to better banking practices for crypto firms. Analysts believe that this will lead to a return of major banks serving these companies, consequently boosting liquidity and confidence in the cryptocurrency market. The order also aligns with broader initiatives under Trump's administration aimed at integrating crypto into traditional finance.
What This Means for Bitcoin, XRP, and Crypto Industry
Analysts highlight the expected ripple effect of the order on various cryptocurrencies. Bitcoin may benefit from renewed institutional inflows, while XRP and stablecoins could have easier banking access, making it easier for startups to raise funds. This move is expected to shift investor sentiment towards a more optimistic outlook.
The planned executive order against 'crypto discrimination' may mark a turning point for liquidity and banking access in the crypto industry. The reactions of investors, startups, and traditional financial institutions will be closely monitored.
