JPMorgan's Crackdown on Crypto Challenges U.S. Hopes for Digital Assets

JPMorgan Chase & Co. has once again sparked controversy over the issue of "debanking" in the crypto sector after

belonging to Jack Mallers, CEO of the Bitcoin-centric payments company Strike, in September 2025. Mallers revealed the closure on social media, pointing out his long-standing relationship with and criticizing the opaque process. "J.P. kicked me out of the bank," he stated, mentioning that his father had been a private client for more than three decades . The bank referenced "concerning activity" found during standard reviews but .

This episode has drawn strong backlash from both crypto supporters and lawmakers, who claim it highlights the ongoing pressure on established banks to limit services for digital asset companies.

, a prominent advocate for crypto, described the event as proof that "Operation Chokepoint 2.0" is still in effect. This phrase refers to accusations that federal authorities have urged banks to cut ties with crypto businesses during the Biden administration. Even after President Donald Trump signed an executive order in August 2025 to prohibit such actions, about whether the ban is being properly enforced.

JPMorgan's move also appears to conflict with the Trump administration's broader push to establish the U.S. as a leader in digital assets.

that Strategy (MSTR), which holds 650,000 , might be forced to liquidate up to $8.8 billion if MSCI Inc. removes digital-asset treasury companies from its indexes by early 2026. This has led to calls for a boycott of JPMorgan, with figures such as encouraging clients to withdraw their funds.

Industry experts have condemned the bank for worsening the divide between traditional finance and the crypto world.

at Fireblocks, cautioned that limiting banking access could drive crypto activities overseas. "Trying to suffocate crypto won't make it disappear," he commented, may weaken America's position in the industry.

The dispute arises as

, having recently committed an extra $50 billion to the field. of capital markets, pointed to its "extensive origination platform" as a key strength. Nevertheless, the account shutdown and research report have overshadowed these developments, with critics accusing JPMorgan of inconsistency in its digital asset strategy.

JPMorgan has yet to

or the boycott movement. The bank's stock price remained steady in pre-market trading, but if the criticism grows. This situation highlights the delicate relationship between large banks and the crypto sector, continue.