The U.S. Office of the Comptroller of the Currency: Nine major U.S. banks have implemented "de-banking" measures in the crypto industry.

The Office of the Comptroller of the Currency (OCC) released preliminary findings stating that between 2020 and 2023, nine of the largest U.S. banks imposed restrictive measures on certain "politically sensitive" industries, including the crypto sector. The OCC pointed out that these banks, based on the "legitimate but controversial" nature of their clients' businesses, engaged in practices such as restricting account openings, limiting services, or requiring higher levels of approval, constituting unfair discrimination. Affected sectors included not only crypto asset issuers, exchanges, and custodians, but also oil and gas, coal, firearms, private prisons, tobacco and e-cigarettes, and the adult entertainment industry. The OCC stated that some banks attributed their restrictions on crypto businesses to "financial crime-related considerations." The OCC's targets included nine large banks, including JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo, and stated that the investigation is ongoing and some findings may be transferred to the Department of Justice. Analysts pointed out that the report did not address some more crucial reasons for "de-banking," such as regulatory assessments of banks' reputational risks and the Federal Deposit Insurance Corporation's (FDIC) previous requirement for banks to "stay away from the crypto industry." (Cointelegraph)