House Committee on Financial Services Chairman French Hill (R-AR) has released a final staff report titled “Operation Choke Point 2.0: Biden’s Debanking of Digital Assets.” The report details “how Biden Administration regulators used vague rules, excessive discretion, informal guidance, and aggressive enforcement actions to pressure banks away from serving digital asset clients, resulting in at least 30 digital asset entities or individuals losing access to financial services.”

Comptroller of the Currency Jonathan V. Gould issued a statement on the release of the report, saying, among other things, “the OCC continues its investigation into the role played by the largest banks in debanking digital asset customers or other legal businesses. The OCC intends to hold these banks accountable for any unlawful debanking activities it identifies, and to ensure OCC-supervised institutions provide access to financial services based on individualized, objective and risk-based analyses.”

Author: sdbrownlow

Student of Design