White House Executive Order Targets Banks Over Alleged Political and Crypto Discrimination
The White House is preparing an executive order designed to penalize banks that cut off services to customers because of their political beliefs or associations with cryptocurrency, according to draft documents and multiple news reports.
The White House is preparing an executive order designed to penalize banks that cut off services to customers because of their political beliefs or associations with cryptocurrency, according to draft documents and multiple news reports.
The move comes in response to years of complaints from conservatives and digital asset companies who allege they have been unfairly “de-banked,” a practice where financial institutions restrict or sever relationships over perceived political or ideological risks rather than legitimate financial concerns.
The draft executive order would instruct federal regulators to investigate whether banks have breached the Equal Credit Opportunity Act, antitrust statutes, or consumer protection laws. Institutions found to have engaged in political or religious discrimination could face fines, consent decrees, or other disciplinary actions.
A notable case referenced in the draft order concerns Bank of America, which has been accused of shutting down accounts belonging to a Christian organization in Uganda. Bank of America stated that the decision was due to its policy of not working with small businesses outside the United States, not because of the group’s religious leanings.
The initiative is widely viewed as a response to complaints from both conservative groups and virtual asset firms, particularly after crypto businesses reported being blocked from banking services in recent years under previous regulatory climates. The White House aims to ensure equal access to the financial system, asserting that no legitimate business or individual should be excluded because of their beliefs or lawful industry.
In a significant development, Pakistan’s Minister for Crypto and Blockchain, Bilal Bin Saqib, visited the White House in June to present the country’s new Strategic Bitcoin Reserve. His visit also aimed at fostering digital asset cooperation with the United States. During his trip, Saqib met with Robert “Bo” Hines, executive director of President Donald Trump’s Council on Digital Assets , to detail Pakistan’s vision for a modern digital economy driven by Bitcoin and blockchain technology.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
How much CPO demand will Nvidia Rubin Ultra generate? Bernstein: Optical value per Pod will increase fivefold
Bernstein believes that the co-packaged optics (CPO) and fiber demand driven by Nvidia's Rubin Ultra architecture will surge significantly, with the optical content per Pod rising from $1 million to $5.4 million. This will propel the size of Nvidia's optical ecosystem market to $46.8 billion by 2028 (a 91% annual increase). Although the industry faces supply bottlenecks with InP substrates, the outlook remains positive. The institution reiterates its “outperform” rating for Lumentum, Coherent, and Ciena.
UBS Q3 implements a two-way strategy with gold options, heavily invests in technology stocks, and builds positions in SK Hynix (SKHY.US)
UBS Group (UBS.US) has submitted its Q3 holdings report (13F) as of September 30, 2026.
SpaceX (SPCX.US) reportedly attempts “de-Nvidiaization” at the rack level: developing Kessel cabinets to bypass L6 compute boards, purchasing only chips
SemiAnalysis: SpaceX has developed its own Kessel cabinet, bypassing Nvidia's L6 cards to provide more options for manufacturing its own hardware.
$3.7 billion “data center power equipment prepayments” abandoned! What did "the most active buyer of gas turbines", SoftBank, see?
In the second quarter of fiscal year 2026, SoftBank reported a net loss of $7.1 billion, primarily due to a $3.7 billion impairment charge from a $9.5 billion advance payment for power generation equipment for US data centers—of which about $2.9 billion was non-refundable and effectively lost. The CFO admitted that SoftBank placed orders before the project plan was finalized, and is now conducting a comprehensive review of its procurement strategy. "The most aggressive purchaser of gas turbines has now written off the deposit in this way."
Crypto prices
More
