{"id":40578,"date":"2025-08-05T16:31:56","date_gmt":"2025-08-05T16:31:56","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=40578"},"modified":"2025-08-05T16:31:56","modified_gmt":"2025-08-05T16:31:56","slug":"new-white-house-order-could-fine-banks-for-discrimination-against-crypto-firms","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=40578","title":{"rendered":"New White House Order Could Fine Banks For Discrimination Against Crypto Firms"},"content":{"rendered":"<div>\n<p><span style=\"font-weight: 400\">The White House is preparing an executive order that could fine and penalize banks that terminate customer accounts for political reasons. The draft order could be signed as early as this week.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The executive order will be a clear mandate for federal regulators to take action. \u00a0It instructs agencies to use full authority to investigate and punish discriminatory banking practices. <\/span><\/p>\n<p><span style=\"font-weight: 400\">According to<\/span><a href=\"https:\/\/www.wsj.com\/finance\/regulation\/white-house-preps-order-to-punish-banks-that-discriminate-against-conservatives-8af18854\" rel=\"nofollow\" target=\"_blank\"><span style=\"font-weight: 400\"> a Wall Street Journal report<\/span><\/a><span style=\"font-weight: 400\"> published on 4 August 2025, the White House \u201cis preparing to step up pressure against banks over perceived discrimination against conservatives and crypto companies with an executive order that threatens to fine lenders that drop customers for political reasons.<\/span><\/p>\n<p>According to the publication, <span style=\"font-weight: 400\">\u201cA draft of the executive order directs bank regulators to investigate whether any financial institutions might have violated the Equal Credit Opportunity Act, antitrust laws or consumer financial protection laws.\u201d<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Exclusive: The White House is preparing to step up pressure against big banks over perceived discrimination against conservatives and crypto companies with an executive order <a href=\"https:\/\/t.co\/Flha5sPtCN\" rel=\"nofollow\" target=\"_blank\">https:\/\/t.co\/Flha5sPtCN<\/a><\/p>\n<p>\u2014 The Wall Street Journal (@WSJ) <a href=\"https:\/\/twitter.com\/WSJ\/status\/1952517136154259706?ref_src=twsrc%5Etfw\" rel=\"nofollow\" target=\"_blank\">August 4, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><strong>Explore:\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/best-crypto-to-buy\/\" target=\"_blank\" rel=\"noopener\">Top 20 Crypto to Buy in August 2025<\/a><\/strong><\/p>\n<h2><strong>Banks Found To Be In Violation Could Face Significant Consequences<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">Financial institutions have been guilty of \u201cde-banking\u201d or denying services to or terminating accounts or businesses for reasons other than financial risk. <\/span><span style=\"font-weight: 400\">The banks found to be in violation could face monetary penalties, consent decrees, and other disciplinary actions.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The order also empowers regulators to refer specific cases of potential violations to the US Attorney General for further action. <\/span><\/p>\n<p><span style=\"font-weight: 400\">While the draft executive order does not name any specific banks, it refers incidents that have drawn public criticism.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Furthermore, a White House report that dropped just days ago calls for the CFTC to get <\/span><span data-preserver-spaces=\"true\">clear<\/span><span data-preserver-spaces=\"true\">\u00a0authority over crypto exchanges that deal with non-security tokens. It also urges regulators\u00a0<\/span><span data-preserver-spaces=\"true\">to finally settle the debate over stablecoin rules and self-custody protections<\/span><span data-preserver-spaces=\"true\">. One standout suggestion is the CLARITY Act, which aims to put an end to the jurisdictional tug-of-war between agencies.<\/span><\/p>\n<p><strong>Read More: <a href=\"https:\/\/99bitcoins.com\/news\/morgan-stanley-to-launch-crypto-trading-are-banks-paying-heed-to-eric-trumps-warning\/\">Morgan Stanley To Launch Crypto Trading: Are Banks Paying Heed To Eric Trump\u2019s Warning? <\/a><\/strong><\/p>\n<h2 class=\"nnbtc-header__title\">Are Banks Paying Heed To Eric Trump\u2019s Warning?<\/h2>\n<p>On 1 May 2025, Morgan Stanley revealed its plan to launch crypto trading through its E-Trade platform. The bank plans to launch the crypto services in 2026. However, the project is in its nascent stage for now. Furthermore, Morgan Stanley is considering partnering with one or multiple established crypto firms as it sets up the mechanics for the brokerage\u2019s clients to buy and sell popular tokens, including Bitcoin and Ether.<\/p>\n<p>Notably, the move comes as Eric Trump, Executive Vice President of the Trump organization and, of course, the son of US President Donald Trump, issued a warning of extinction to traditional banks.<\/p>\n<p>The financial landscape, specifically traditional banking, is going through a seismic shift, with digital assets and decentralized finance (DeFi) gaining trust among users.<\/p>\n<p>Eric Trump has chosen a side. \u201cThere\u2019s nothing that can be done on blockchain that can\u2019t be done better than the way that the current financial institutions are working,\u201d he said. \u201cThe modern financial system is broken, it\u2019s slow, it\u2019s expensive.\u201d<\/p>\n<p><strong><span data-preserver-spaces=\"true\">EXPLORE:\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/best-ai-crypto-coins\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">10 Best AI Crypto Coins to Invest in 2025<\/span><\/a><\/strong><\/p>\n<p><span style=\"font-weight: 400\">    <\/p>\n<div class=\"nnbtc-key-takeaways\">\n<h2 class=\"nnbtc-key-takeaways__title\">Key Takeaways<\/h2>\n<p><span style=\"font-weight: 400\">    <\/p>\n<ul class=\"nnbtc-key-takeaways__list\">\n        <\/ul>\n<p><\/span><\/p>\n<p><span style=\"font-weight: 400\">    <\/p>\n<li class=\"nnbtc-key-takeaways__list-item\">\n         <\/li>\n<p><\/span><span style=\"font-weight: 400\">Financial institutions have been guilty of \u201cde-banking\u201d or denying services to or terminating accounts or businesses for reasons other than financial risk.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\"><br \/>\n    <\/span><\/p>\n<p><span style=\"font-weight: 400\">    <\/p>\n<li class=\"nnbtc-key-takeaways__list-item\">\n         Recently, Eric Trump issued a warning of extinction to traditional banks.<\/li>\n<p><\/span><\/p>\n<p><span style=\"font-weight: 400\"><br \/>\n    <\/span><\/p>\n<p><span style=\"font-weight: 400\"><br \/>\n    <\/span><\/p>\n<p><span style=\"font-weight: 400\">    <\/span><\/p>\n<\/div>\n<p>    <\/span><\/p>\n<p>\u00a0<\/p>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/bitcoin-btc\/new-white-house-order-could-fine-banks-for-discrimination-against-crypto-firms\/\">New White House Order Could Fine Banks For Discrimination Against Crypto Firms<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The White House is preparing an executive order that could fine and penalize banks that terminate customer accounts for political reasons. The draft order could be signed as early as this week.\u00a0 The executive order will be a clear mandate for federal regulators to take action. \u00a0It instructs agencies to use full authority to investigate [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-40578","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/40578","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=40578"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/40578\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=40578"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=40578"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=40578"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}