The U.S. regulatory agencies have removed the "reputational risk" assessment clause, which will ease the issue of the banking sector "disengaging" from the encryption industry.

PANews reported on March 21 that according to reporter Eleanor Terrett, one of the key factors that led to "debanking" in the past was the regulator's requirement for banks to consider the so-called "reputational risk" when assessing whether customers have access to financial services. The Fed had instructed employees in its internal manual to watch for "controversial remarks" from bank executives, but Fed Chair Jerome Powell pledged last month to remove that provision. Recent developments show that the Office of the Comptroller of the Currency (OCC) has officially removed "reputational risk" from its bank examination standards, emphasizing that it will focus on more transparent areas of risk in the future.