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Trump Torches Fed, Biden – Calls Debanking ‘Very Dangerous’ for U.S. Economy
In a recent Oval Office appearance, President Donald Trump expressed strong disapproval towards the ongoing debanking of crypto firms by stating that it is a “very bad and very dangerous” trend. Trump attributed this development to the policies initiated under his predecessor’s administration, which he believes has hindered the growth of the U.S. economy.
Trump emphasized that debanking is a pressing issue that needs immediate attention. The President’s comments come at a time when there is ongoing debate about the role of financial regulators in promoting innovation and accessibility within the digital asset sector.
According to Trump, the current policies have resulted in widespread exclusion of crypto firms from mainstream financial services, with many banks refusing to provide them with essential banking facilities like accounts, loans, or investment advice. This has led to an atmosphere of uncertainty and mistrust towards cryptocurrencies among investors and entrepreneurs alike.
In his critique of President Biden’s administration, Trump highlighted the need for a more pro-crypto stance by regulatory bodies. He warned that the existing policies could lead to devastating consequences for both the financial markets and the broader economy.
Trump also expressed frustration over the Federal Reserve’s reluctance to lower interest rates, stating that it has hindered the growth of various sectors, including crypto.
Source: ambcrypto.com
