Finance cluster aims to add $15bn to Abu Dhabi GDP

The post OCC Findings Suggest Major U.S. Banks Restricted Access for Digital Asset Firms Amid Debanking Probe appeared on BitcoinEthereumNews.com. The Office of the Comptroller of the Currency (OCC) has confirmed that nine major U.S. banks engaged in debanking practices from 2020 to 2023, restricting access for digital asset firms and other sectors. This marks the first official acknowledgment of these policies, which limited services based on customer types, affecting crypto businesses significantly. OCC report highlights inappropriate distinctions by banks like JPMorgan Chase and Bank of America, targeting crypto and high-risk sectors. Nine banks reviewed showed similar policies restricting customer access without objective risk assessments. Impacted industries include digital asset firms, with potential referrals to the Attorney General for unlawful practices. Discover how major U.S. banks’ debanking policies hit crypto firms hard, per OCC’s 2025 report. Learn the implications for digital assets and what regulators are doing next—stay informed on banking risks today! What Are the OCC’s Findings on Banks Debanking Crypto Firms? Banks debanking crypto firms involves major financial institutions limiting or denying services to digital asset businesses based on perceived risks, as detailed in a recent Office of the Comptroller of the Currency (OCC) report. From 2020 to 2023, nine of the largest U.S. banks implemented policies that required escalated reviews or outright restrictions for certain customers, including those in the crypto sector. This practice, now publicly confirmed, underscores ongoing tensions between traditional banking and emerging digital asset industries. How Did These Debanking Practices Affect Digital Asset Companies? The OCC’s six-page report, released on Wednesday, revealed that institutions such as JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, U.S. Bancorp, Capital One, PNC Financial Services Group, Toronto-Dominion Bank, and Bank of Montreal made distinctions among customers that were deemed inappropriate. For digital asset firms, this meant heightened scrutiny or complete denial of banking services, hindering operations in an already volatile market. The regulator noted that these policies spanned…

Analysts predict a surge in altcoin ETF approvals within two months, signaling broader acceptance beyond BTC andETH.