President Trump has issued executive orders that address the banking practices toward crypto companies and the inclusion of digital assets in retirement accounts. The orders aim to stop banks from denying services to lawful cryptocurrency businesses based on perceived "reputation risk." Additionally, Americans will now be allowed to add regulated cryptocurrency options to their 401(k) retirement plans.
Blockchain Association CEO Summer Mersinger responded to these developments by stating: “Today’s executive orders from President Trump mark a historic shift in how the U.S. treats digital assets and the innovators building in this space. Ending the discriminatory practice of debanking lawful crypto companies sends a clear message: the era of ‘reputation risk’ being used to justify financial exclusion is over. At the same time, allowing Americans to include regulated, diversified crypto exposure in their 401(k) retirement accounts, the administration is expanding consumer choice and empowering individuals to responsibly build wealth using some of the best-performing assets of the past decade. We applaud this landmark action and whole-of-government approach to cement American leadership in financial innovation and protect the freedom of individuals and businesses to participate in the digital economy.”
The new policy is expected to broaden access for both consumers and businesses operating within the digital asset sector.
