In brief
- A new executive order tasks federal regulators with tightening fraud screening and limiting credit lines for undocumented immigrants.
- Experts say the policy mirrors an alleged plot under the Biden administration to choke crypto firms—and the driving force behind the creation of World Liberty Financial.
- Critics warn that freezing millions out of the traditional banking system could backfire by benefiting organized crime or provoking future retaliation.
When President Donald Trump’s family faced growing pressure from banks, it embraced crypto. Now, immigrants who are in the U.S. illegally face a similar choice under what policy experts describe as a move that could force people out of the traditional banking system.
On May 19,…
