President Trump has signed an order aimed at reducing bank discrimination against crypto businesses in the U.S. This event has sparked discussions about its potential impact on the market.
Goals of the New Order
The order seeks to facilitate access to banking services for crypto businesses, potentially leading to market shifts for Bitcoin, Ethereum, and exchanges like Coinbase.
Support from Key Figures
The initiative is backed by key figures, including Changpeng Zhao, founder of Binance, who has expressed support for the initiative. The measure aims to penalize banks that deny services based on political affiliation.
Potential Market Consequences
The initiative could alter financial landscapes, promoting integration of crypto assets in the banking system and reducing friction. However, compliance challenges and operational costs may persist according to industry observers.
This order may mark the beginning of a new phase in cooperation between banks and crypto initiatives, opening up new growth opportunities within the sector.
