The world of cryptocurrency has been gaining more attention and acceptance in recent years, with many governments and institutions starting to recognize its potential. However, despite the Trump administration being more open to the idea of cryptocurrency compared to its predecessor, there is still one major issue that has yet to be addressed – crypto debanking.

Caitlin Long, CEO of Custodia Bank, has been a vocal advocate for the crypto industry and has been closely monitoring the actions of the current administration. While she acknowledges that there have been positive developments, such as the appointment of pro-crypto individuals in key positions, she believes that the issue of crypto debanking needs to be urgently addressed.

For those unfamiliar, crypto debanking refers to the practice of banks and financial institutions closing accounts or denying services to individuals or businesses involved in the cryptocurrency industry. This has been a major hurdle for many crypto companies, as they struggle to find reliable banking partners to support their operations.

Despite the growing popularity and potential of cryptocurrency, it is still a relatively new and unregulated industry. This has led to hesitation and caution from traditional financial institutions, who may view it as a risky and volatile market. However, this has also resulted in unfair treatment towards legitimate businesses and individuals who are simply trying to participate in the crypto space.

Long believes that the Trump administration needs to take a proactive approach in addressing this issue, as it not only affects the growth and development of the crypto industry, but also poses a threat to the principles of fair competition and equal access to financial services.

In conclusion, while the Trump administration may have shown some positive signs towards cryptocurrency, there is still much work to be done in ensuring that the industry is given a fair and equal playing field. It is time for the government to address the issue of crypto debanking and provide much-needed clarity and support for this emerging market.