WSJ, citing unnamed sources in the US Presidential Administration, reports that the country’s authorities are discussing the provisions of the new law, which may prohibit commercial banks to refuse to open bank accounts or stop servicing companies due to their belonging to crypto-industry.
Sources of WSJ noted that this step of the new administration of the White House was a response to the accusations of some participants in the US banking industry in a coordinated restriction of access to digital assets.
At least 30 founders of technological companies from the cryptocurrency industry told the country’s authorities that they were unmotivated by access to banking services during the reign of former President Joe Biden.
Commenting on the WSJ message, the founder and CEO of Custodia Bank, Caitlin Long, noted that “to talk about the possibility of completely stopping the debanking of cryptocurrency companies in the near future and similar risks will be preserved for the industry until 2026.”
“Trump will not have a real opportunity to appoint a new head of the Federal Reserve System until January 2026, and we see only bread crumbs leading to a potentially large battle,” Long said.
Earlier, Donald Trump announced that his team was stopping the “regulatory war”, which was begun by the administration of the former President Joe Biden, and is ready to adopt new legislation with simple and adequate rules.
Source: Bits
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.
