9 mega banks block crypto accounts, but new OCC rules bite back

The Office of the Comptroller of the Currency’s Oct. 14 debanking findings identify historical restrictions on digital asset issuers, exchanges, and administrators, often attributed to financial crime considerations.The findings review crypto banking decisions across policies at the nine largest national banks the agency supervises.For smaller crypto businesses, an individual bank’s risk assessment remains an important gate to access. Comptroller Jonathan Gould is preserving objective customer decisions while challenging improper exclusion.The consequential test is how the OCC distinguishes financial, operational, or compliance constraints from disapproval of a lawful business, and whether its scrutiny produces usable banking services.The functions at stake extend beyond opening a deposit account. On June 29, 2026, BNY announced stablecoin services for institutional clients, including holding USDC in BNY custody and instructing Circle through BNY to mint USDC from dollars or redeem it for dollars.The arrangement links digital asset custody with the dollar side of stablecoin activity. BNY described service availability for its institutional clients, while eligibility for smaller cry...