OCC report finds debanking efforts tied to crypto activities

Latest NewsPublishedOct 14, 2026The report from the US banking regulator did not include specific examples of debanking related to crypto, but mentioned it alongside ties to oil, gas and firearms.The US Office of the Comptroller of the Currency (OCC) released a report on debanking efforts, including ties to digital assets as activities that influenced banks to limit financial services.In a report released Wednesday, the OCC said certain banks had “public and nonpublic policies” restricting services for many industries, including oil and gas, tobacco, firearms and digital assets. According to the banking regulator, the report was in accordance with an August 2025 executive order from US President Donald Trump to prevent what he called “unlawful debanking.”“Many institutions also placed restrictions on banking digital asset activities, including on issuers, exchanges, or administrators, often attributed to financial crime considerations,” said the OCC.In November 2024, more than 30 tech and crypto executives claimed to have been denied access to banking services. Many in the crypto industry unofficially dubbed the effort as “Operation Chokepoint 2.0” after the Obama-era initiative to...