Earlier this week, President Donald Trump signed an Executive Order to halt unfair banking discrimination in America, drawing commentary from Caitlin Long. The order sets strict limits on when banks can refuse to serve lawful businesses, including crypto firms. The order also introduces an independent overseer to ensure compliance. The move has sparked debate in the crypto and financial community. Some see it as the end of “Operation Choke Point 2.0.” Others are waiting to see if the order will truly restore accounts to crypto companies that were previously debanked. Caitlin Long on Independent Watchdog for Crypto Debanking Issues In a recent X post , Custodia Bank founder and CEO Caitlin Long spotlighted these new changes. She said the creation of an independent overseer is the most significant part of the executive order. President Trump appointed Kelly Loeffler, a former U.S. senator, pro-Bitcoin, to oversee the compliance of the order. Her role is to monitor debanking activities outside of the control of the three main banking regulators. This includes the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve (Fed), and the Office of the Comptroller of the Currency (OCC). Before entering politics, Loeffler was CEO of Bakkt, an institutional Bitcoin futures platform. Her appointment proves that the current administration wants someone with deep knowledge of the crypto industry in a position of authority. Concerns About Political Bias in the Banking Sector Long said the decision to put the Small Business Administration (SBA) in charge shows a lack of confidence in traditional banking regulators. She added that it signals doubt about those agencies’ willingness to address political bias. Long notes that political leanings among Fed and FDIC staff may have influenced past actions. She pointed out that in 2024, up to 92% of their political donations went to Democratic candidates. Critics worry that such biases may have shaped regulatory decisions. It was noted that during the Biden administration, many crypto-related firms faced scrutiny . Some were even cut off from banking services despite following all legal requirements. Custodia Bank itself was cut off from several banking partners after regulators pressured them, despite having a clean compliance record. Protection for All Lawful Businesses, Not Just Crypto The executive order focuses on protecting lawful business activities instead of naming specific industries. This means banks cannot refuse services simply because a company operates in crypto , as long as the company follows the law. The rule also protects other lawful businesses that could face discrimination for political reasons. Caitlin Long believes the success of the order will depend on its practical results. If banks that previously shut out lawful crypto firms are compelled to reopen their accounts, the order will have achieved its goal. For now, the crypto sector is watching closely to see whether Trump’s debanking order leads to real change. Some fear it could become another unfulfilled promise in the long battle for fair banking access. The post Caitlin Long Breaks Silence on Donald Trump’s Executive Order appeared first on TheCoinrise.com .
