Operation Chokepoint: OCC Confirms Crypto Sector Debanking Under Biden Administration

HIGHLIGHTS The OCC said the top nine banks it regulates essentially debanked the crypto sector. These banks reportedly had policies which discouraged providing services to crypto firms. These policies were in place between 2020 and September 2025. The Office of the Comptroller of the Currency (OCC) has confirmed that banks under its supervision debanked the crypto sector under the Biden administration, a move famously known as Operation Chokepoint 2.0. The report found that these banks had policies that essentially discouraged providing financial services to the crypto industry.