The US Office of the Comptroller of the Currency (OCC) released a 47-page report on debanking, saying some banks had public and nonpublic policies restricting services to industries including oil and gas, tobacco, firearms and digital assets. The report was prepared under an August 2025 executive order from President Donald Trump aimed at preventing 'unlawful debanking', and it said many institutions restricted banking for digital asset activities, often citing financial crime concerns. However, the report included no specific examples of debanking related to crypto, and the OCC said it could not quantify the full extent of debanking based on a review of nine major banks. OCC head Jonathan Gould said decisions tied to coal and firearms were not based on financial risk but on concerns about negative headlines, public protests and reputational consequences. The crypto industry had unofficially called the effort 'Operation Chokepoint 2.0'.
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