Fed’s Bowman Confirms Crypto Debanking. Are Banks Ready For What’s Next?
US Federal Reserve Governor Michelle Bowman attends a “Fed Listens” event at the Federal Reserve headquarters in Washington, DC, on October 4, 2019.
AFP via Getty Images
The Federal Reserve’s top banking supervisor just validated years of industry complaints and exposed a troubling new reality. For years, crypto companies complained about being systematically excluded from the banking system. Regulators denied it. Banks claimed their hands were tied. And an entire industry was forced to build alternative infrastructure just to access basic financial services.
On December 2, 2025, Federal Reserve Vice Chair for Supervision Michelle Bowman appeared before the House Financial Services Committee and said what the crypto industry has been…
