Foresight News
Foresight News|Dec 11, 2025 01:49
[U.S. Office of the Comptroller of the Currency: Nine U.S. Banks Implemented 'Debanking' Measures on the Crypto Industry Between 2020 and 2023] According to Foresight News, citing a report from Cointelegraph, preliminary findings from the U.S. Office of the Comptroller of the Currency (OCC) reveal that nine U.S. banks imposed financial service restrictions on politically sensitive industries, including cryptocurrency, between 2020 and 2023. These banks engaged in 'improper discrimination' based on customers' lawful business activities, implementing policies that restricted access to banking services or required heightened scrutiny and approval before providing financial services. In addition to cryptocurrency, the restricted industries included oil and gas exploration, coal mining, firearms, private prisons, tobacco and e-cigarette manufacturers, and the adult entertainment industry. The banks under review include JPMorgan Chase, Bank of America, Citibank, Wells Fargo, U.S. Bank, Capital One, PNC Bank, TD Bank, and BMO Bank. The OCC stated that it will continue its investigation and may refer its findings to the Department of Justice.
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