Banks are persistently closing accounts for crypto companies, adhering to a strategy called Operation ChokePoint. This trend has been confirmed by Unicoin’s CEO, who noted his company faced debanking without prior explanation from various banks.
Despite Donald Trump’s promise of reforms to support crypto, as of 2025, debanking remains a significant concern. The emergence of Operation ChokePoint 3.0 exemplifies this, with banks raising fees on fintech and crypto applications.
A recently announced executive order by President Trump aims to penalize banks engaging in debanking. However, any substantial progress in regulation will rely heavily on the precise wording of the new laws and the ongoing risk-averse approach of financial institutions.
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