Jonathan Gould, Chairman of the US Office of the Comptroller of the Currency (OCC), has announced a major policy shift regarding cryptocurrency banking access. Speaking at events in Washington this week, Gould declared that the era of the OCC discouraging banks from participating in crypto activities is over.
The OCC will now actively work to resolve instances where crypto firms are denied essential banking services, a practice known as "debanking." Gould acknowledged this as a "real phenomenon" that has hindered growth for legitimate digital asset companies. His approach includes withdrawing anti-crypto licensing requirements that historically discouraged traditional banks from engaging with the sector and establishing clear new regulations specifically for stablecoins.
Gould stated that he considers many crypto-related activities among "legally permitted transactions" that banks should be able to participate in, viewing cryptocurrencies as a natural extension of financial intermediation services. While acknowledging that crypto technologies may pose some risks, he emphasized that "I don't see innovation as contradictory to security and robustness."
This regulatory shift comes amid the Trump administration's broader pro-crypto stance, including recent stablecoin regulations and President Trump's pledge to make the US the "crypto capital of the planet." The OCC will work more closely with banks in this area and develop a roadmap to ensure the safe conduct of crypto-related activities.