US Banking Regulators Finalize Rule to Combat Crypto Debanking

The U.S. banking regulators have finalized a rule that defines 'unsafe practices' to combat crypto debanking, also known as 'Operation Chokepoint 2.0.'

The Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) jointly moved to finalize rules on August 27th that define what constitutes 'unsafe or unsound practices' in bank supervision.

OCC's Head Jonathan V. Gould said this move will help bank leaders focus on material financial risks, rather than getting bogged down in policy-related issues.

The new rules aim to codify the agency's return to risk-based supervision and ensure that its approach endures.