U.S. banking regulators OCC and FDIC finalized on August 27 rules defining « unsafe or unsound practices » in bank supervision to limit crypto debanking. This definition had previously been left to the discretion of bank examiners, which under the Biden administration allowed broad restrictions on crypto firms in 2022. The new rules will take effect 60 days after publication in the Federal Register. OCC Head Jonathan V. Gould described the move as « historic » and a return to risk-based supervision. The number of OCC bank charter approvals, including for stablecoin issuers and crypto firms, has significantly increased during Trump’s second term.
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