Why order Is Trending Today?

President Donald Trump has signed an executive order aimed at preventing politically motivated 'debanking' of cryptocurrency firms. The order, which targets discriminatory practices by banks, comes as a response to concerns raised by the crypto industry about unfair treatment. This move is seen as a fulfillment of Trump's promise to support the crypto sector. The order also opens up 401(k) retirement plans to cryptocurrency investments, marking a significant step towards wider crypto adoption.

President Trump has signed an executive order prohibiting unlawful debanking of conservatives and the crypto industry. The order aims to prevent discriminatory practices by financial institutions, including those targeting the digital asset industry. This move comes after reports of banks, such as JPMorgan, allegedly debanking individuals due to their political or religious views. The order also addresses concerns about banks closing accounts of crypto companies, a practice that has been criticized as stifling innovation in the sector.

Bank of America's CEO has denied the alleged trend of 'debanking', urging regulators for clarity to prevent 'second-guessing'. Meanwhile, the White House, under President Trump, is set to probe claims of discrimination by banks ahead of a 'debanking' crackdown, with a focus on crypto firms. This comes as Bitcoin's price holds steady at $115K amidst these developments.

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