Story perspectives

Trump Greenlights Five New Crypto Banks Amid Controversy

12/15/2025

Center

Trump Expands Crypto Banks

U.S. President Donald Trump approved plans for five new cryptocurrency-focused national banks, expanding the industry's access to traditional finance.
The plan reflects the administration's supportive stance on crypto and deregulation.
Circle and Ripple received approval from the Office of the Comptroller of the Currency (OCC), which oversees national banks.
Critics view this as regulatory favoritism, following the SEC's earlier easing of enforcement actions against crypto firms.

Left

Trump Eases Crypto Enforcement

U.S. President Donald Trump (Donald J. Trump) oversees the Securities and Exchange Commission as it eases crypto-enforcement actions, dismissing or pausing more than 60% of ongoing cases.
The cases affected include those tied to Trump allies such as the Winklevoss twins and Binance.
Trump's family has benefited financially, with estimates that their crypto ventures could be worth $5 billion.
Critics say the shift signals favoritism and weaker investor protections.

History

Historical Context

In 2018, the U.S. government initiated a shift towards cryptocurrency deregulation, highlighted by the JOBS Act's approval. This move, supported by President Trump, allowed banks like Circle and Ripple to engage with crypto, reflecting a broader trend of regulatory easing. However, concerns arose regarding potential favoritism towards allies and risks to investor protections and market stability amid this evolving landscape.

1 of 3

Trump Expands Crypto Banks

U.S. President Donald Trump approved plans for five new cryptocurrency-focused national banks, expanding the industry's access to traditional finance.
The plan reflects the administration's supportive stance on crypto and deregulation.
Circle and Ripple received approval from the Office of the Comptroller of the Currency (OCC), which oversees national banks.
Critics view this as regulatory favoritism, following the SEC's earlier easing of enforcement actions against crypto firms.

1 / 3