US OCC Report: Some Banks Restrict Financial Services for Certain Sectors Including Digital Assets

According to Cointelegraph, the U.S. Office of the Comptroller of the Currency (OCC) has released a report on debanking, noting that some banks maintain "public and non-public policies" that restrict financial services for industries such as digital assets, oil and natural gas, tobacco, and firearms. The report states that many financial institutions typically impose restrictions on digital asset-related businesses due to concerns over financial crime risks, affecting issuers, exchanges, and administrators.