President Donald Trump’s Upcoming Cryptocurrency Executive Order

President Donald Trump plans to sign a new executive order related to cryptocurrency, targeting the anti-crypto policies of the Joe Biden administration that have hindered banking access for crypto companies. Sources informed Decrypt that the order could be signed as soon as this week.

The upcoming order aims to roll back regulations associated with “Operation Chokepoint 2.0,” which is perceived as a strategy by the Biden administration to restrict banking services for crypto companies and executives.

Bo Hines, Executive Director of the White House’s Presidential Working Group on Digital Assets, confirmed that the executive order is being prepared, although further details were not disclosed. Hines mentioned the industry can expect an announcement soon and reiterated the administration’s commitment to ending practices linked to Operation Chokepoint 2.0.

Though specifics of the order remain unfinalized, there are indications it will influence Federal Reserve policies on master accounts, which are essential for banks to provide nationwide services. The Biden administration had denied master accounts to crypto banks like Custodia, significantly hampering their operations.

Allowing crypto banks access to the Fed’s services would represent a major advancement for the digital assets sector. However, the Federal Reserve operates independently from the White House, meaning such policies would not require presidential approval.

The Trump administration is also evaluating potential legal challenges regarding this new crypto order, with senior officials scheduled to meet to discuss these hurdles.

Furthermore, the order may include additional directives, such as specifying that stablecoins—crypto assets designed to maintain a stable value pegged to the U.S. dollar—should not be classified as securities.

If signed in the next few days, this will mark Trump’s third executive order related to cryptocurrency since resuming office, following a January 23 order that established a Presidential Working Group on Digital Asset Markets and a recent order creating a U.S. government strategic Bitcoin reserve and a separate digital asset stockpile for non-Bitcoin assets.

Decrypt has previously reported that the initial crypto executive order from Trump was likely the first in a series of such efforts.