U.S. President Donald Trump is preparing to sign an executive order that will be a major step in combating the phenomenon known as “crypto de-banking.” This term describes the practice of banks and financial institutions denying services to cryptocurrency companies for political or ideological reasons.

The order aims to strengthen protections for cryptocurrency companies and their clients against unfair restrictions from the traditional financial system. In particular, it will require regulators to investigate potential violations of the Equal Credit Opportunity Act, antitrust laws, and other regulations that may be used to restrict financial service access for crypto projects. It may also introduce fines or special agreements for financial institutions found in violation.

Additionally, the order will instruct federal agencies to repeal existing policies that encourage “crypto de-banking” and will direct the U.S. Small Business Administration to review its lending practices to ensure that artificial barriers for cryptocurrency companies are removed.

This move comes amid growing concerns that crypto companies in the U.S. are facing difficulties in accessing banking services, hindering their operations and growth. Several major U.S. banks have previously refused to serve cryptocurrency exchanges and startups, drawing criticism from the crypto community.

The order is expected to be signed in the coming days and could have a significant impact on the development of the cryptocurrency industry in the U.S. It may open new opportunities for crypto companies, boost their liquidity, and improve access to financing and traditional financial services.

Ultimately, this executive order could reshape relations between the cryptocurrency sector and traditional financial institutions in the U.S., potentially accelerating the adoption of cryptocurrency and blockchain at the federal level.