U.S. Banks Tighten Grip on Crypto — Nine Major Institutions Restrict Services to Industry Firms Amid Rising Scrutiny
A new report reveals that nine leading U.S. banks — including JPMorgan Chase, Bank of America, and Wells Fargo — have restricted or limited financial services to cryptocurrency companies. The coordinated tightening, dubbed “crypto de-banking,” raises questions about the accessibility of traditional financial infrastructure for digital asset firms and investors.
Coinccino 
Market Impact
The restrictions come amid growing regulatory pressure from U.S. authorities on digital asset compliance and anti-money laundering controls. Crypto firms have reportedly faced sudden account closures, delayed transactions, and tighter onboarding requirements — especially for companies dealing with stablecoins, exchanges, and cross-border settlements.
For many startups and DeFi-related projects, this represents a renewed challenge in maintaining liquidity and operational flexibility within the U.S. banking system.
Regulatory Climate
The U.S. Treasury and Federal Reserve have both signaled increased oversight of crypto-related banking relationships following incidents involving FTX, Binance, and other major players. Analysts believe banks are acting preemptively to avoid compliance risks, effectively drawing invisible lines around the industry.
While this may protect institutions from exposure, it also threatens to isolate legitimate blockchain innovation from mainstream finance — potentially driving more crypto firms overseas to friendlier jurisdictions.
Industry Reaction
Crypto executives and advocacy groups have criticized the move as a step backward for financial innovation. Some liken it to “Operation Choke Point 2.0,” suggesting an unofficial effort to curb crypto access to the traditional financial system. Others argue it underscores the need for decentralized finance (DeFi) and stablecoin-based banking alternatives that can operate independently of traditional institutions.
Future Outlook
If restrictions continue, the U.S. may see more blockchain firms migrate to Europe, the Middle East, and Asia — regions now adopting clear crypto frameworks. However, this de-banking wave could also accelerate the creation of crypto-native financial rails, including tokenized banking models and compliant stablecoin platforms.
