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BTCC / BTCC Square / Global Cryptocurrency /
US Regulator Finds Major Banks Imposed ’Inappropriate’ Restrictions on Crypto Firms

US Regulator Finds Major Banks Imposed ’Inappropriate’ Restrictions on Crypto Firms

Author:
Global Cryptocurrency
Published:
2025-12-11 13:03:01
8
3
BTCCSquare news:

The U.S. Office of the Comptroller of the Currency (OCC) has uncovered evidence that nine of the nation's largest banks systematically restricted services to legal businesses, including digital asset companies. JPMorgan Chase, Bank of America, Citibank, Wells Fargo, U.S. Bank, Capital One, PNC, TD Bank, and BMO maintained policies from 2020-2023 that created unequal access to banking services based on industry sector.

Financial institutions applied heightened scrutiny or outright prohibitions to sectors deemed misaligned with corporate values. The OCC's review, initiated under a Trump-era executive order, identified crypto businesses among industries facing discriminatory practices alongside energy, firearms, and adult entertainment.

Regulators are moving to curb what they describe as the weaponization of financial infrastructure. The findings signal potential relief for blockchain firms struggling with banking access—a persistent bottleneck for cryptocurrency adoption in traditional finance.

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