On Wednesday, the Office of the Comptroller of the Currency (OCC) released findings that have raised alarm bells regarding crypto debanking, reigniting fears of what some are dubbing “Operation Chokepoint 2.0” within the financial sector.

This supervisory review focused on nine of the largest national banks under OCC supervision, including JPMorgan Chase , Bank of America, Citibank, Wells Fargo, US Bank, Capital One, PNC Bank, TD Bank, and BMO Bank.

‘Harmful Debanking Policies’

The preliminary findings from the OCC reveal troubling trends: between 2020 and 2023, these banks appeared to make unwarranted distinctions among customers based on their legal business activities.

Specifically, many of these institutions maintained policies that either restricted access to financial

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