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Julia Smith
Author
Julia Smith
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Blockchain Association CEO Summer Mersinger praised U.S. President Donald Trump’s newly signed executive orders on Thursday, calling them “a historic shift in how the U.S. treats digital assets and the innovators building in this space.”
Summer Mersinger Praises New Executive Orders
On August 7, Trump signed two executive orders: one permitting crypto and other alternative assets in 401(k) plans, and another penalizing banks for “debanking”—or denying customer service based on ideological reasons.
Following the announcement, Mersinger issued a statement via the association’s official X account, calling the directives “landmark” actions.
“Ending the discriminatory practice of debanking lawful crypto companies sends a clear message: the era of ‘reputation risk’ being used to justify financial exclusion is over,” Mersinger said. “At the same time, allowing Americans to include regulated, diversified crypto exposure in their 401(k) retirement accounts, the administration is expanding consumer choice and empowering individuals to responsibly build wealth using some of the best-performing assets of the past decade.”
“We applaud this landmark action and whole-of-government approach to cement American leadership in financial innovation and protect the freedom of individuals and businesses to participate in the digital economy,” she added.
Financial Access or Reputational Risk?
Trump’s “debanking” order is largely seen as a win for financial access advocates, though critics have raised concerns over possible reputational risk issues.
Meanwhile, crypto supporters view Trump’s 401(k) move as a step toward mainstream adoption of digital assets in the U.S.
Trump has long campaigned on transforming U.S. financial policy, especially regarding blockchain technology. For example, He recently appointed businessman Paul Atkins to lead the United States Securities and Exchange Commission in an effort to establish a crypto-friendly regulatory agenda.
Just last month, the U.S. Federal Housing Finance Agency (FHFA) Director Bill Pulte ordered Fannie Mae and Freddie Mac to explore how cryptocurrencies could factor into mortgage risk assessments.
Trump’s latest executive actions mark another step in his broader push to reshape the U.S. financial system.
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