OCC Chief Vows to End Banking Discrimination Against Web3 in 2025: A Trump-Backed Revolution
- Why Is the OCC Finally Tackling Crypto Debanking?
- How Trump’s Policy Machine Is Rewriting Crypto Rules
- Will Banks Actually Play Nice With Crypto?
- FAQ: Your Burning Questions Answered
In a landmark shift, the U.S. Office of the Comptroller of the Currency (OCC) has pledged to dismantle "debanking" practices targeting crypto firms, marking a seismic policy reversal under the Trump administration. Jonathan Gould, head of the OCC, confirmed investigations into nine major banks for unjustified account closures, while the GENIUS Act streamlines stablecoin licensing. With $239M in pro-crypto campaign funding from Elon Musk and regulatory easing by the Fed, 2025 could be the year crypto sheds its pariah status—provided banks play ball.
Why Is the OCC Finally Tackling Crypto Debanking?
For years, U.S. banks treated crypto companies like financial lepers, citing vague "reputational risks." But at a CoinDesk event this September, OCC chief Jonathan Gould dropped the bureaucratic equivalent of a mic: "When banks weaponize compliance to blacklist legal businesses, that’s not risk management—it’s discrimination." The admission follows Trump’s Executive Order 14331, mandating equal banking access. Now, the OCC’s probe into nine top banks (including JPMorgan and Bank of America) could force a reckoning. As one BTCC analyst quipped, "Turns out ‘crypto-anarchy’ just needed a presidential signature."
How Trump’s Policy Machine Is Rewriting Crypto Rules
Behind the scenes, Trump’s team has been stacking the regulatory deck. The GENIUS Act—passed quietly in Q2 2025—lets stablecoin issuers skip banking license hurdles. Meanwhile, the Treasury’s relaxed BSA/AML guidance means banks can no longer use anti-money laundering rules as a blanket excuse to reject crypto clients. "It’s like watching a Wall Street version of," said a DC insider. "Trump made them an offer they couldn’t refuse." Case in point: $135M from the pro-crypto Fairshake PAC now funds congressional candidates who’ll toe the line.
Will Banks Actually Play Nice With Crypto?
Old habits die hard. Despite the OCC’s warnings, some banks still quietly reject crypto clients—just with fancier excuses. But the financial calculus is changing. With institutional investors (read: deep pockets) eyeing bitcoin ETFs and Ripple’s legal wins setting precedents, banks face a choice: adapt or lose fee revenue to crypto-native lenders. Gould’s compromise? "Innovation within guardrails." Translation: expect stricter audits for exchanges like BTCC but fewer outright bans. As for that viral image of chains breaking? Maybe premature, but the symbolism hits hard.
Key Numbers Driving the Shift:
- 9 major banks under OCC scrutiny (as of September 2025)
- $239M: Elon Musk’s donation to Trump’s pro-crypto campaign war chest
- 21M BTC donated by Winklevoss twins in August 2025
- 135% surge in crypto-friendly bank charter applications since GENIUS passed
FAQ: Your Burning Questions Answered
What triggered the OCC’s crackdown on debanking?
Trump’s Executive Order 14331 forced regulators to act, but pressure had built for years. Crypto firms submitted over 12,000 complaints about account closures since 2023 (CoinMarketCap data).
Which banks are being investigated?
The OCC hasn’t named names, but insiders suggest Citi and Wells Fargo are among the nine. Fines could reach $50M per violation.
Does this mean easier crypto banking globally?
Not necessarily. The EU’s MiCA rules remain stricter, and Asia’s policies vary wildly. But the U.S. shift could pressure other G7 nations.
