It's the same tactic they used to engage in Big Tech censorship.
Technically, the government isn't preventing anyone from doing anything. They're just providing lists of people who these highly regulated corporations should consider denying service to.
It's basically a public service, if you think about it.
Under Obama and Biden, the banking sector has been weaponized against industries American leftists don't like. The Obama administration acted as if its regulatory targets did not deserve due process, and the program ravaged far and wide.