White House prepares executive order to fine banks that discriminate against crypto companies & conservatives.

Multiple sources confirm that the current White House administration, led by President Donald Trump (inaugurated January 2025), is actively working on an executive order targeting financial institutions that engage in discriminatory practices against crypto businesses and conservative groups. This aligns with the administration's broader pro-crypto and deregulatory stance.

The executive order is intended to address what is often referred to as 'debanking', the practice where banks refuse services to certain customers, including crypto companies and politically conservative clients. This initiative reflects the administration's effort to counteract perceived financial discrimination.

However, reports indicate that while the executive order was expected imminently (as early as the week of early August 2025), there have been pauses or delays in its issuance, possibly due to regulatory or political considerations.

The administration has also released a comprehensive crypto policy report calling for regulatory clarity and innovation-friendly policies, further supporting the context of this executive order.

It is important to note that while the executive order preparation is well-documented, as of early August 2025, it has not yet been officially signed or fully implemented, which tempers the claim slightly.