Fox Business crypto reporters posted on the X platform that the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation are advancing the finalization of a rule to define “unsafe or unsound practices” in bank regulation. This term has not been clearly defined for years, primarily relying on the broad discretion of bank examiners.

Under this rule, when regulators determine that a practice is “unsafe or unsound,” they must link it to actual illegal conduct or significant financial risk, thereby reducing the likelihood of pressuring banks serving legitimate clients, including crypto companies, based on vague reputational or procedural issues. This rule marks another important step towards further dismantling “Operation Chokepoint 2.”