Odaily Planet Daily reported that former US President Trump signed an executive order on Thursday prohibiting federal regulators from blocking banks from servicing the crypto industry on the grounds of "reputational risk." The White House stated that previous unfair practices have undermined public trust in the financial system and caused economic harm to law-abiding citizens. The move is seen as an important step in ending the "Chokepoint 2.0" operation, which "cuts off" bank accounts for the crypto industry. Regulators such as the Federal Reserve have pledged to no longer assess customer relationships based on "reputational risk." Several Republican lawmakers expressed support for the move, saying the executive order would help curb financial discrimination and restore regulatory transparency.