Beautiful OCC: Fully end the de-banking, reputation risks, and assist in the development of encryption banking business.

The U.S. Office of the Comptroller of the Currency (OCC) Director Jonathan Gould announced at the beginning of September that regulatory guidelines would be comprehensively revised, and that services could no longer be denied for political or religious reasons related to debanking (Debanking) actions. He subsequently stated publicly at the crypto industry event on 9/11 that they would assist banks in safely and legally participating in the Crypto Assets business. These initiatives also echo the policy direction previously set by President Trump for the U.S. to become a "global capital powerhouse of crypto assets."

Trump signed an executive order to strongly combat de-banking related activities.

Trump had planned to sign an executive order in June, which was aimed at requiring federal regulatory agencies to thoroughly investigate banking institutions that had previously been involved in de-banking activities, and to emphasize to banks:

"Services must not be refused based on political stance or the nature of the business, including crypto operators."

In August, Trump officially signed an executive order that comprehensively investigates financial institutions involved in de-banking and simultaneously eliminates all regulations that deny customers based on reputational risk. This order also requires major financial regulatory agencies to review existing regulatory guidelines to avoid excluding legitimate businesses under vague pretenses.

(Wall Street Journal: Trump plans to sign an executive order to stop Chokepoint 2.0, supporting the Crypto Assets industry against bank discrimination)

OCC follows Trump's order and announces the removal of reputation risk regulations.

When Trump's order came out, various government agencies followed suit. At the beginning of September, OCC clearly stated that it would remove the basis for assessing reputational risk in regulatory documents and operational manuals, and required the top nine regulated banks in the U.S. to provide relevant de-banking information.

OCC pointed out in an internal memorandum that in the future, when banks apply for new business or mergers, the focus of regulatory agencies' review will be on:

"Whether the business itself is safe, legal, and compliant with financial regulations, and no longer allows political, religious, or vague reputational risks to block or refuse service."

OCC also specially reminds financial institutions that customer financial records may only be disclosed under extremely limited circumstances, while reiterating the principles of proper use of "suspicious activity report" (SAR).

( Note: Suspicious Activity Report (SAR) refers to the core regulations that financial institutions such as banks in the United States must comply with for anti-money laundering and counter-terrorism financing.

OCC Director: Support legitimate and feasible Crypto Assets banking operations

On September 11, OCC Director Gould stated at the CoinDesk event that the OCC will assist banks in establishing legitimate and feasible business collaborations with the Crypto Assets industry. He pointed out that many banks wish to participate in crypto-related businesses that are within the legal framework, and it is the responsibility of regulators to ensure that banks have adequate infrastructure and risk management, rather than simply blocking them.

Gould emphasized:

"Innovation and maintaining financial stability are not in conflict. We will work more closely with banks that wish to engage in this type of business to assist them in operating safely under legal frameworks."

Reputational risk is no longer an excuse to reject encryption or sensitive industries.

The wave of reforms led by the White House and OCC means that American banks in the future cannot refuse customers for political or religious reasons, nor can they block crypto assets or other sensitive industries solely based on reputational risk. Other regulatory agencies, including the Federal Reserve )Fed( and the Federal Deposit Insurance Corporation )FDIC(, are also reviewing relevant regulations to ensure that banking operations meet the new standards of safety and legality.

For clients who were originally restricted due to political stance, religious beliefs, or crypto assets business, this represents a significant lowering of the threshold for obtaining banking services in the United States in the future. For financial institutions, the new regulatory direction requires more rigorous compliance and risk management, but with less concern about politicization.

)The Federal Reserve will no longer regulate banks' "reputational risk" and will shift its focus to financial risk management(

This article by OCC: Fully ending de-banking and reputation risks, assisting in the development of crypto banking operations first appeared on Chain News ABMedia.