Unicoin CEO: US Banks Still Closing Crypto Business Accounts Without Cause

According to ChainCatcher, citing a report from Cointelegraph, Unicoin CEO Alex Konanykhin revealed that despite the Trump administration’s pro-crypto stance, major U.S. financial institutions such as Citibank and JPMorgan Chase continue to close crypto company accounts without justification. Since the beginning of this year, Unicoin and its subsidiaries have had services terminated by four banks, including Wells Fargo, City National Bank of Florida, and TD Bank.

The Trump administration is planning to sign an executive order requiring federal banking regulators to review such practices. Industry experts point out that substantive change will depend on the introduction of specific regulatory guidelines, and for now, banks remain risk-averse toward crypto-related businesses.