Foreign media reports that Trump's executive orders on immigration are being interpreted by some industry insiders as a tightening of the traditional banking system. The article mentions that regulators are being asked to strengthen fraud screening and limit credit lines to undocumented immigrants, potentially pushing some towards stablecoins, Bitcoin ATMs, and cash alternatives.

Banking services tightened

The White House described the measure as part of "restoring integrity to the U.S. financial system." Regulators have been asked to study stricter vetting rules, focusing on identity verification, risk control, and the identification of suspicious transactions. Critics argue that this will cause more people to lose their traditional bank accounts.

Stablecoins and Bitcoin ATMs were mentioned.

The article points out that stablecoins and Bitcoin ATMs may become alternative tools. Stablecoins are typically pegged to the US dollar, making them suitable for cross-border transfers; Bitcoin ATMs allow users to exchange cash for crypto assets. However, the article also notes that these channels lack some of the protection mechanisms found in traditional remittance services.

The controversy centers on financial exclusion

Some interviewees believe that excluding undocumented immigrants from the banking system could actually fuel the expansion of underground finance, criminal organizations, or shadow banking channels. Others link this policy to the previous controversy surrounding the "debanking" of the crypto industry, arguing that it continues a stronger exclusionary approach in US financial regulation.