Debanking Persists Despite Pro-Crypto Signals

[cryptoenthusiast]

Despite pro-crypto rhetoric and executive action, industry leaders say debanking remains an unresolved issue. President Donald Trump signed an executive order in August barring banks from denying services without lawful cause and instructed regulators to investigate debanking practices.

Yet crypto executives continue to report disruptions. In November, Strike CEO Jack Mallers said JPMorgan debanked him without explanation. In December, the bank reportedly froze accounts linked to stablecoin startups BlindPay and Kontigo, citing exposure to sanctioned jurisdictions.

As a result, many in the industry see Waller’s Fed proposal as a structural fix, not just a policy promise.