The OCC has warned Wall Street about the de-banking issue in industries such as digital assets, stating that such practices are illegal

According to CoinDesk, U.S. President Trump has initiated action against the de-banking measures implemented by the U.S. regarding controversial industries such as digital assets, prompting the Office of the Comptroller of the Currency (OCC) to release a new report. The report further confirms past practices and warns that banks involved may face penalties.

This brief report from the OCC reviewed the nine largest national banks in the U.S., concluding that these banks have established both public and non-public policies that restrict certain industries from accessing banking services, including requiring enhanced reviews and approvals before providing financial services. The report states that some large banks have set higher entry barriers 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 specifically mentioned, along with links to their past public policies, particularly regarding environmental issues.

The report states: "The Office of the Comptroller of the Currency intends to hold these banks accountable for any illegal de-banking activities, including referring relevant cases to the Attorney General." However, it remains unclear which specific laws these activities may have violated.