In December 2024, in response to the press/advocacy campaign by Marc Andreessen and other crypto advocates regarding a phenomenon they call debanking, I wrote Debanking (and Debunking?) in Bits about Money. That piece is the definitive explanation of the issue. It examines many angles including: the constraints on banks and their incentive structures how AML regulation sometimes hurts innocent entrepreneurs a detailed history of Operation Choke Point a detailed analysis of why two crypto-affilia...