Trump Blames Biden for Banks Blocking Crypto: ‘There Is a Lot of Debanking’

President Donald Trump said on Friday that debanking crypto companies is a “very bad and very dangerous” practice that was probably caused by the Biden administration, but still remains a problem in the United States.

“There’s a lot of debating,” Trump said in an oval office tonight in response to the question from Unscramble. “These people are very bad and very dangerous and should not do it.”

Debanking concerns the alleged practice of banks that reject customers’ services based on their association to industry, such as crypto or their political beliefs. Crypt’s leaders have long claimed that during the bidden years they were routinely denied Standard banking services. Conservative public personalities, including the President and his familyhave made a similar claim.

“I can tell you because I was a victim because of my policy, that big banks were very ugly for us,” Trump said on Friday about his experience during her possession of former President Joe Biden. “And actually I think they were Biden’s people who told him to be – because one group of people who are afraid of banks are regulatory bodies.”

President Trump has elaborated that he does not blame large banks for participating in these practices, but rather a federal agency supervising this industry.

“I saw the biggest banker, I can tell you – you see him on TV all the time. If a regulator entered the room, he would be nervous and crazy,” Trump said. “Regulatory bodies are controlled by banks. It is not the president of the bank. The President of the bank is much less important to the bank than the regulatory body and the regulatory body can exclude this bank from business.”

Unscramble On Friday he asked Trump whether he intends to sign the Executive Code focused on debanking. Such an order could potentially instruct the Federal Bank regulatory bodies, including the federal reserve system, explicitly, so that it does not deny services to certain groups or individuals. Trump’s administration planned to sign such a executive order in March, Unscramble previously reported. But these plans were soon postponed, at least temporarily, said several sources that they acquainted with this matter.

The proposal may now be back in action. From this week, White House officials are considering issuing a executive order focused on debanking, according to the report in Wall Street Journal.

On Friday, when he asked about such plans, the president did not confirm their existence. However, he said the problem of debating has persisted in the United States, even since its return to power.

From the inauguration of Trump has issued federal banking agencies under its inspection documents that appear to confirm the existence of previous guidelines from the same regulatory bodies discouraging Membership banks from offering crypt services.

However, direct evidence has not yet been published that shows that such agencies are instructed by members of the banks to reject standard services to individuals working in the cryptometer.

Edited Andrew Hayward