U.S. Comptroller Gould Confirms Crypto Debanking: “It’s Real”

By Cryptocaster Intelligence Desk

The debate over whether banks have been quietly sidelining crypto firms took a sharp turn this week when Comptroller of the Currency Jonathan Gould confirmed what many in the industry have long suspected: crypto debanking is real.

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Speaking at CoinDesk’s Policy & Regulation event in Washington, D.C., Gould said he continues to hear fresh stories of crypto-linked companies being told by banks that their accounts are no longer welcome. “Debanking is real,” Gould said. “I’m hearing stories as recently as last week about people with corporate accounts being told, ‘We don’t want your business here.’”

His acknowledgement adds weight to years of complaints from crypto entrepreneurs who claim banks, under regulatory pressure or citing “reputation risk,” have cut them off from critical services.

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Defining Debanking

Debanking occurs when financial institutions deny or terminate services not because of fraud, insolvency, or legal violations, but because of the perceived reputational or political risk of certain industries or customers. For crypto firms, this has often meant sudden account closures, loss of payment rails, and difficulties establishing basic banking relationships.

The practice has drawn increasing scrutiny in Washington, where critics say it undermines financial inclusion and fair access principles. Gould’s remarks mark the first time the nation’s top banking regulator has publicly affirmed the practice is happening in crypto’s case.

Policy Shifts Under Gould

Since taking office earlier this year, Gould has signaled a willingness to reshape how regulators view crypto engagement. His Office of the Comptroller of the Currency (OCC) has already removed references to “reputation risk” from supervisory materials, a key justification banks once cited when refusing crypto clients.

Going further, the OCC plans to consider debanking in two powerful areas: bank licensing applications and Community Reinvestment Act (CRA) evaluations. That means banks that engage in blanket exclusions of lawful industries could face regulatory consequences when expanding operations or undergoing compliance reviews.

Gould also pointed to broader efforts to normalize crypto’s place in the financial system, including developing a framework for stablecoin issuers under the pending GENIUS Act.

White House Pressure

The regulatory push is backed by a political directive. In early August, President Trump signed an executive order targeting the practice of debanking. The order described viewpoint-based banking exclusions as “incompatible with a free society” and required regulators to ensure banks base decisions on objective, risk-based factors.

The order also urged agencies to review complaints and, where feasible, reinstate affected customers. Gould’s OCC has since begun collecting and analyzing consumer data tied to account closures and service denials.

Why It Matters for Crypto

For years, crypto businesses have said they were punished simply for existing in a controversial sector. Without access to basic services such as corporate accounts, wire transfers, and payment processing, startups often faced higher operational costs or were forced to bank offshore.

Gould’s recognition that debanking is real signals a potential turning point. If the OCC follows through, banks may need to revisit policies that treated crypto clients as too risky by default. The shift could unlock smoother entry points for exchanges, custodians, and payment providers operating in the United States.

Still, not everyone agrees on the scale of the issue. Reuters recently noted that consumer complaint data suggests relatively few confirmed cases of debanking across the broader financial system. Critics argue the debate has been amplified by political rhetoric more than systemic evidence.

Looking Ahead

Whether Gould’s stance results in lasting change depends on implementation. Integrating debanking oversight into licensing and CRA processes would add teeth to regulatory promises, but banks may continue to err on the side of caution until clearer rules for crypto risk management are in place.

For now, crypto firms have won something they have long sought: public acknowledgment from the top U.S. banking regulator that the problem exists. That recognition could mark the start of a more balanced conversation between banks, regulators, and the digital asset industry.

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