Coinbase has launched a formal challenge against U.S. banking regulators, accusing them of using a "political" and "vague" rule to pressure banks into cutting ties with cryptocurrency firms. In a public statement and detailed comment letter submitted to the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC), the exchange argued that regulators have misused the concept of "reputational risk" as a "supervisory hammer" to quietly restrict lawful crypto activity.
Coinbase's Chief Policy Officer, Faryar Shirzad, stated the company supports a joint OCC and FDIC proposal to eliminate reputational risk from their supervisory frameworks. The exchange contends that this subjective standard, untethered from measurable financial harm, has been used to discourage banks from providing core services to crypto companies, a practice the industry labels "Operation Chokepoint 2.0." Coinbase claims to have experienced this pressure firsthand, uncovering internal regulatory communications through FOIA requests and litigation that allegedly show crypto firms were singled out.
The dispute is part of a wider political fight over crypto debanking in the United States. The issue intensified in December 2025 when the OCC released preliminary findings showing all nine of the largest U.S. national banks imposed inappropriate restrictions on lawful businesses, including digital asset firms, between 2020 and 2023. Comptroller of the Currency Jonathan Gould said these widespread practices amounted to an improper use of bank charters. This review was ordered under a Trump-era executive order.
Simultaneously, Coinbase is making strategic operational adjustments. The exchange announced it will temporarily halt peso-denominated services in Argentina starting January 31, 2026. This move suspends users' ability to buy or sell USDC stablecoins with Argentine pesos or access local bank withdrawals in the local currency, affecting fiat on-ramps and off-ramps. Coinbase launched in Argentina in early 2025 but cites the nation's volatile economic and regulatory environment under President Javier Milei's administration as a factor in the pause, which it describes as a short-term adjustment.
Looking ahead, CEO Brian Armstrong unveiled an ambitious 2026 roadmap focused on three core priorities. First, expanding the "everything exchange" globally by integrating a wide array of assets beyond crypto, including equities and commodities. Second, scaling stablecoins and payment systems to enhance practical utility. Third, "bringing the world onchain" through initiatives like the Coinbase Developer Platform and the Base blockchain. Armstrong's goal is to position Coinbase as the world's leading financial app through significant investments in product quality and automation.
