Leading U.S. Banking Authority Gould Acknowledges the Reality of Crypto Debanking

Key Points:

Jonathan Gould, the Comptroller of the Currency, has confirmed that complaints regarding crypto debanking are legitimate.
Appointed by President Donald Trump, Gould is initiating several policies favoring the crypto industry in his early days at the OCC.
The OCC is beginning to implement regulations under the GENIUS Act for stablecoin issuers.

Main Content:

WASHINGTON, D.C. — In his initial weeks in charge of the U.S. Office of the Comptroller of the Currency, Jonathan Gould clearly articulated his stance on the systemic trend of banks severing ties with crypto individuals and businesses.

“Debanking is real,” he stated at CoinDesk’s Policy and Regulation event, affirming it as a noticeable issue. He shared, just last week, he received accounts of corporate customers being denied service.

Gould is committed to shifting the U.S. into a global crypto hub and has been active in tackling debanking issues while revising previous restrictive licensing conditions against crypto.

Earlier this week, the OCC issued a statement announcing measures to “eliminate politicized or unlawful debanking” within the federal banking system. The challenges crypto faces in securing bank relationships have been notable, marking a significant concern in regulatory discourse.

As part of the GENIUS Act, the OCC aims to become a federal regulator for stablecoin issuers, taking steps to streamline the licensing process for crypto entities wishing to operate as banks.