Trump signs executive order to halt unfair treatment of crypto industry by cutting off banking services

On Thursday, US President Trump signed an executive order aimed at preventing federal regulators from targeting financial institutions doing business with the cryptocurrency industry. A White House fact sheet stated that the digital asset industry has been unfairly targeted by "unbanking," a practice that undermines public trust in banks and regulators, impacts livelihoods, freezes wages, and places a heavy economic burden on law-abiding Americans. The order removes "reputational risk" as a justification for increased regulation, a term not specifically referring to cryptocurrency but previously cited as a target for the industry.