#cryptonews
The U.S. Office of the Comptroller of the Currency has released preliminary findings from a sweeping review into debanking practices at the country’s nine largest national banks, revealing that all of them imposed “inappropriate” restrictions on lawful businesses, including firms operating in the digital-asset sector.
The list of affected industries stretched from oil and gas to firearms, private prisons, tobacco, and adult entertainment. Digital asset companies were included among the businesses facing barriers.
He described the practices as harmful to lawful enterprises and an inappropriate use of a national bank charter. While the banks have insisted that they did not engage in discriminatory account closures, the OCC said many of the policies were visible publicly, and its investigations will continue until a full accounting is completed.
Comptroller of the Currency Jonathan Gould said the agency’s early findings show that these policies were not isolated cases but widespread across the institutions reviewed.
According to the regulator, those findings will be released later. Debanking typically occurs when banks decide it is safer to sever ties with certain customers rather than risk regulatory scrutiny. In the case of crypto businesses, the pressure has often come indirectly through warnings, consultations, or guidance that banks interpret as cautionary notes from their regulators.
The agency’s work builds on a review launched in September 2025 and covers thousands of complaints, including claims of political and religious debanking.
Lawmakers in states such as Florida, Idaho, Tennessee, and others have pushed their own “fair access” laws designed to block banks from using ideological or non-financial criteria when assessing customers. Earlier this month, JPMorgan Chase CEO Jamie Dimon recently rejected claims that the bank closes accounts based on political considerations.
The issue has grown into a political flashpoint. President Trump signed an executive order in August intended to stop the practice of debanking customers solely for involvement in crypto or other legal industries.
The controversy deepened last month when Strike CEO Jack Mallers said his accounts were abruptly closed under vague references to “concerning activity,” fueling renewed allegations of a modern “Operation Chokepoint.”
Regulators consistently deny any coordinated effort to cut off crypto access, arguing that decisions stem from anti-money-laundering obligations. Federal law requires banks to monitor and report suspicious activity, and institutions face steep penalties when they fail to comply.
His comments followed accusations from crypto executives and conservative groups who say they were cut off without clear explanations.
