The crypto industry in the United States is still facing banking issues. Report shows that banks still hesitate to work with crypto companies, making it difficult to open accounts, process payments, and run their businesses smoothly. Many believe this is part of “Operation Chokepoint 2.0.” While President Donald Trump has shown support for the crypto industry , experts believe that the problem of debanking is yet over. DeBanking Issues Persists Amid Crypto-Friendly Policies The issue of debanking has been ongoing for years, but it got worse in early 2023 when many crypto-friendly banks started to collapse . This made people worry that the government was trying to stop crypto investors from using traditional banks, calling this situation “Operation Chokepoint 2.0.” In 2025, President Trump took several steps in favor of cryptocurrency. He recently ordered that Bitcoin seized from criminal cases be used to create a national reserve. However, despite these efforts, crypto firms continue to struggle with banking access. The Federal Reserve Is Still Against Crypto Banking In a recent interview, Caitlin Long, founder and CEO of Custodia Bank , stated that the Federal Reserve remains a major obstacle. She pointed out that two crypto-friendly banks are currently under close examination by the Fed. Some regulatory officials have allegedly pressured certain banks to halt digital asset operations, citing regulatory uncertainty. Long believes this is part of a larger strategy to regulate how banks engage with cryptocurrency tightly. Even though some regulators have relaxed their rules on crypto, the Federal Reserve has not changed its stance. Many in the industry are concerned since the agency is still led by officials appointed before Trump’s latest moves. They fear the restrictions will persist until new leadership takes over. A Global Problem for Crypto Firms Crypto companies outside the U.S. are also facing similar challenges. In Europe, many crypto firms have had their bank accounts shut down multiple times in recent years. Some companies have been forced to move their operations from one country to another to find banks working with them. Crypto businesses have lost time and money trying to work with banks. Many spend years and millions searching for a bank, only to face rejection. Even those following all the rules still struggle for basic services. While 2024 was a better year for some European crypto firms, the issue has not been fully solved. Regardless, many hope that the situation will improve. The Office of the Comptroller of the Currency (OCC) recently announced a more relaxed approach to how banks can work with crypto businesses. This decision came just hours after President Trump promised to end the crackdown on crypto firms’ banking access. During the White House Crypto Summit, the president assured industry leaders that he was ending Operation Chokepoint 2.0. Despite these promises, many in the industry remain cautious. The post Crypto Banking Woes Continue Despite Trump’s Policy Shift appeared first on TheCoinrise.com .
