Crypto users keep hearing that America is becoming more crypto-friendly. But try moving serious money from Coinbase into a traditional bank account and see how friendly the system really feels. One of my clients transferred $1 million from Coinbase into a Citibank account. Citi rejected the transfer. Then they closed the entire account. Not a small account either. There was around $5 million sitting there. The bank mailed him a check for $5 million. Through the mail. - No discussion. - No warning. - No “let’s clear this up.” - Just goodbye. This is the part people miss about crypto debanking. Even if your activity is legal, banks may still treat crypto-related transfers as high risk. And if the compliance burden is too expensive, some banks would rather drop the customer than deal with the paperwork. So when politicians talk about ending debanking, that is a good start. But it does not solve the bigger issue. As long as crypto is treated like suspicious activity by default, crypto users are still not fully inside the financial system. They are tolerated. Until they become inconvenient. So here’s the question: If a bank can close your account for receiving money from Coinbase, do crypto users actually have financial freedom?

The world always goes back to gold backing when fiats inevitably fail. For centuries.