OCC Warns Wall Street Against Illegal ‘Debanking’ of Digital Asset Firms
The U.S. Office of the Comptroller of the Currency cautions financial institutions that removing services from crypto and other controversial industries violates federal law.
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Terms & Concepts
OCC (Office of the Comptroller of the Currency): A U.S. federal banking regulator overseeing national banks and federal savings associations.
Debanking: The practice of denying or removing banking services from certain individuals or industries.
Digital Assets: Electronic representations of value or rights, including cryptocurrencies, that are stored and transferred using blockchain technology.