A new report from the Cato Institute argues that most debanking cases in the U.S. aren’t simply banks making independent risk decisions — they’re largely the result of government pressure.
Crypto firms are among the most impacted. According to the report, regulators often lean on “regulatory risk” to nudge banks away from serving the sector, effectively restricting access without clear, direct rules.
Cato’s takeaway is blunt: the current system is opaque and unaccountable. The report calls for legislative reforms to curb government influence over account closures and to add transparency around why banking access is being cut off.
