According to sources familiar with the matter, the order would introduce fines for banks that block transactions involving crypto companies.
This measure would address a longstanding issue in the crypto sector, where US correspondent banks have often refused to process transactions related to digital assets, particularly those involving the conversion of fiat to crypto.
The report also stated that the executive order could include monetary penalties and other forms of discipline for banks that engage in crypto discrimination.
According to him:
“It used to be that corresponding banks in the US block transactions involving crypto (fiat for buying crypto). This [potential order] opens banking for crypto internationally.”
Other community members noted that the executive order comes in response to growing concerns that US banks are launching “Operation Chokepoint 3.0,” a perceived initiative to block access to financial services for crypto entities.
Winklevoss argued that such actions could financially cripple fintech companies that facilitate crypto purchases, claiming it is an attempt to limit consumer access to banking data via third-party platforms like Plaid.
He stated:
“Jamie Dimon and his cronies are trying to undercut President Trump’s mandate to make America the pro innovation and the crypto capital of the world. We must fight back!”
