OCC Reports Major Banks Easing Restrictions on Digital Asset Businesses

The Office of the Comptroller of the Currency (OCC) has released findings indicating that nine of the largest U.S. banks are easing some restrictions on digital asset businesses. This report, which covers the period from 2020 to September 2025, highlights a shift in the banking landscape for cryptocurrency companies.

Among the banks reviewed are JPMorgan Chase, Bank of America, Citibank, Wells Fargo, U.S. Bank, Capital One, PNC Bank, TD Bank, and BMO Bank. The OCC's examination involved nearly 100,000 complaints and approximately 420,000 pages of bank documents, revealing that these institutions had implemented restrictive policies limiting services for digital asset entities, primarily due to concerns over financial crime, particularly anti-money laundering risks.

OCC Comptroller Jonathan Gould noted that many of these restrictions were influenced more by reputational risks than by actual financial concerns. Despite the easing of some restrictions, the OCC acknowledged the ongoing challenges in quantifying the extent of “debanking” across the banking system.

The report follows an executive order from President Trump aimed at addressing unlawful debanking practices and aligns with a series of supervisory changes at the OCC. Since March 2025, the agency has issued interpretive letters clarifying banks' engagements with digital assets, including custody and stablecoin services.

For digital asset businesses, the OCC's findings suggest a more favorable environment as major banks begin to reassess their policies. However, banks retain the ability to impose restrictions based on financial crime concerns, indicating that while the door may be opening, challenges remain.