OCC Report Links Debanking to Crypto and Energy Sectors

The United States Office of the Comptroller of the Currency (OCC) has released a report detailing debanking efforts that include digital assets alongside traditional industries such as oil, gas, and firearms. According to Cointelegraph, the 47-page report published Wednesday revealed that certain banks maintain public and nonpublic policies restricting financial services for multiple sectors.

The banking regulator stated that the review followed an August 2025 executive order from US President Donald Trump designed to prevent unlawful debanking. Many institutions placed restrictions specifically on digital asset issuers, exchanges, and administrators, often attributing the decisions to financial crime considerations.

Industry Context and Findings

The findings follow claims from more than 30 tech and crypto executives in November 2024 who reported being denied access to banking services, a phenomenon unofficially termed "Operation Chokepoint 2.0." However, the OCC report did not provide specific examples of debanking related directly to digital asset activities.

The agency noted that it was unable to comprehensively quantify the full extent of alleged debanking actions based on a review of nine major banks. OCC head Jonathan Gould emphasized that banking restrictions on industries like coal were frequently driven by reputational concerns rather than financial risk.

Key facts

• The US OCC released a report examining bank restrictions across digital assets, oil, gas, tobacco, and firearms.
• The report follows an August 2025 executive order from US President Donald Trump addressing unlawful debanking.
• Restrictions on digital asset entities were often attributed by banks to financial crime considerations.
• The review of nine major banks did not include specific examples of debanking linked to digital assets.