The cryptocurrency saw a precipitous drop in its price on Thursday afternoon, retreating well below the $100K threshold into $98K territory. Bitcoin Falls to $98K: A Surprising Link to a New Hemp Ban It sounds too salacious to be true, but a weed ban may have caused bitcoin to drop below $100K. The new restriction […]The cryptocurrency saw a precipitous drop in its price on Thursday afternoon, retreating well below the $100K threshold into $98K territory. Bitcoin Falls to $98K: A Surprising Link to a New Hemp Ban It sounds too salacious to be true, but a weed ban may have caused bitcoin to drop below $100K. The new restriction […]

Did a New Ban on Weed Cause Bitcoin to Fall Below $100K?

2025/11/14 05:06
Did a New Ban on Weed Cause Bitcoin to Fall Below $100K?The cryptocurrency saw a precipitous drop in its price on Thursday afternoon, retreating well below the $100K threshold into $98K territory. Bitcoin Falls to $98K: A Surprising Link to a New Hemp Ban It sounds too salacious to be true, but a weed ban may have caused bitcoin to drop below $100K. The new restriction […]
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The U.S. OCC has warned Wall Street about the "de-banking" of industries such as digital assets, calling such practices "illegal."

The U.S. OCC has warned Wall Street about the "de-banking" of industries such as digital assets, calling such practices "illegal."

PANews reported on December 11th, citing CoinDesk, that President Trump's actions against the "debanking" of controversial industries such as digital assets have prompted the Office of the Comptroller of the Currency (OCC) to release a new report. The report further confirms past practices and warns that banks suspected of involvement could face penalties. This brief OCC report reviewed nine of the largest national banks in the United States, concluding that "between 2020 and 2023, these banks developed public and private policies that restricted certain industries from accessing banking services, including requiring escalating reviews and approvals before providing financial services." The report states that some large banks set higher barriers to entry for controversial or environmentally sensitive businesses, or activities that contradict the banks' own values. Financial giants such as JPMorgan Chase, Bank of America, and Citigroup are highlighted, with links to their past public policies, particularly those concerning environmental issues. The report states, "The OCC intends to pursue accountability for any illegal 'debanking' activities by these banks, including referring related cases to the Attorney General." However, it remains unclear which specific laws these activities may have violated.
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PANews2025/12/11 09:04