OCC: Nine major US banks review debanking practices in specific industries, including virtual currencies

The Office of the Comptroller of the Currency (OCC) has released preliminary findings that nine major U.S. banks have restricted financial services to various industries, including cryptocurrencies.
Cointelegraph reported on the 10th (local time) that nine major banks will be involved in politically controversial projects, including those in the cryptocurrency industry, from 2020 to 2023.
The OCC reported that a preliminary investigation revealed that some large banks have restricted financial services to certain sectors, including those conducting legitimate business activities.
The OCC did not disclose the specifics of its policies, but it said that banks should not restrict account openings or financial services to certain customers, or restrict the provision of services to certain customers.
The company has requested additional review and approval procedures before providing services.
The order was initiated following an executive order signed by President Trump in August, which requires banks to prohibit lenders from disclosing their political or religious beliefs.
The ministry has ordered an investigation into whether financial institutions have discriminated against or "debanked" customers on the grounds of their financial status. "Debanking" refers to financial institutions canceling accounts of specific companies or individuals without a teaser or opening new accounts.
According to the OCC report, in addition to virtual currencies, the industries restricted by banks include oil and gas exploration, coal mining, the firearms industry, private correctional facilities, and tobacco and e-cigarette manufacturing.
The OCC stated that, in particular, "in the virtual currency industry, there have been cases of restrictions on issuers, exchanges, administrators, etc. due to the risk of financial crimes."
The banks surveyed this time include JPMorgan Chase, Bank of America,
America, Citibank, Wells Fargo, US Bank
Bank, Capital One, PNC Bank, TD Bank, BMO Bank
The nine major banks under the OCC's jurisdiction, including the Bank of England, are under investigation. The OCC said it is continuing its investigation and may refer the details to the Department of Justice if necessary.