Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesBotsEarnCopy
US House oversight committee is probing crypto debanking

US House oversight committee is probing crypto debanking

CoinjournalCoinjournal2025/01/25 01:55
By:Coinjournal
  • The US House Oversight Committee has announced its investigating cases of debanking of crypto companies.
  • Uniswap, Coinbase, Kraken, a16z and Blockchain Association are among crypto companies and entities to receive a letter asking for information on the alleged debanking.
  • The Senate Banking Committee is also set to hold a hearing on debanking in early February.

The U.S. House Oversight Committee is probing the issue of alleged debanking of crypto companies and individuals.

On Jan. 24, the committee sent a letter addressed to several crypto executives asking them to share information on the debanking claims. Apart from crypto companies, US First Lady Melania Trump also highlighted the issue.

Investigations are part of the new focus on crypto regulation following a largely negative four years under President Joe Biden’s government.

🚨 BREAKING 🚨

Chairman James Comer Investigates Apparent Politically Motivated Debanking of Thirty Tech Founders, First Lady Melania Trump

Chairman Comer is investigating recent reports of financial institutions debanking lawful American businesses and individuals based on… pic.twitter.com/X7tZlsz3NK

— Oversight Committee (@GOPoversight) January 24, 2025

Those to receive the letter are Uniswap Labs CEO Hayden Adams, Coinbase co-founder and CEO Brian Armstrong, a16z co-founder Marc Andreessen and Kraken CEO David Ripley. The letter also sought the input of Lightspark CEO David Marcus and Blockchain Association CEO Kristin Smith.

“The Committee seeks to understand whether this pattern of debanking stems from financial institutions themselves or from government actors,” the letter reads in part.

Senate Banking Committee to hold a hearing

Crypto debanking has also attracted the attention of the House Financial Services Committee and the Senate Banking Committee, both of which are looking to get to the bottom of this heavily criticised developments.

“The Committee is concerned about the chilling implications this overreach may have in silencing industries arbitrarily disfavored by regulators, driving consequential technological and financial innovation overseas, and preventing targeted businesses from making payroll and paying employees their wages,” the Oversight Committee’ letter continues.

The Senate Banking Committee has announced it will hold a hearing on crypto debanking on February 5, 2025. Committee chair Tim Scott said :

“Debanking is un-American – every legal business deserves to be treated the same regardless of their political beliefs. Unfortunately, under Operation Chokepoint 2.0, Biden regulators abused their power and forced financial institutions to cut off services to digital asset firms, political figures, and conservative-aligned businesses and individuals.”

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

38% Dogecoin Rebound, Cardano Tests AI Limits, But Unstaked’s AI Advantage Steals the Show

Dogecoin (DOGE) jumps 38%, and Cardano (ADA) launches an AI testnet, but Unstaked’s advanced AI agents go beyond marketing, offering real impact and value.Dogecoin (DOGE) Future: Aiming for $3.94 with MomentumCardano (ADA) Blockchain Tests AI ScalabilityUnstaked: AI That Goes Beyond MarketingFinal Take: Real AI Utility vs. Hype

Coinomedia2025/05/08 21:11
38% Dogecoin Rebound, Cardano Tests AI Limits, But Unstaked’s AI Advantage Steals the Show

ETH Trades at Historic Lows vs BTC Since 2019

ETH hits lowest value compared to BTC since 2019, raising questions on a potential rebound amid mixed fundamentals.ETH Undervalued Against BTC: A Historical SetupBullish History, Bearish FundamentalsPatience Required for Ethereum Bulls

Coinomedia2025/05/08 21:11
ETH Trades at Historic Lows vs BTC Since 2019

Popcat Climbs, Dogecoin Stalls, But BTFD Triples Tokens with 200% Bonus—Best Meme Coin Presale to Buy Now Before May 26 DeadlineConclusion: Don’t Mis

BTFD Coin surges in Stage 15 with 90% APY staking and 200% bonus. Best meme coin presale to buy now before it launches on May 27!BTFD Coin (BTFD) – The Bulls Are Charging, Are You In?Dogecoin (DOGE) – The OG Meme King Facing Shaky GroundPopcat (POPCAT) – The Smart Money Magnet of the Moment

Coinomedia2025/05/08 21:11
Popcat Climbs, Dogecoin Stalls, But BTFD Triples Tokens with 200% Bonus—Best Meme Coin Presale to Buy Now Before May 26 DeadlineConclusion: Don’t Mis

SHIBA’s Hype Fades, ADA Devs Work; Meanwhile, Web3 ai Becomes Highest Trending Crypto With $500K Frenzy

Explore Shiba Inu (SHIBA) recovery trends, Cardano (ADA) prediction backed by developer growth, and how Web3 ai’s Portfolio Optimizer replaces guesswork with smart strategy. Learn why Web3 ai is gaining traction among the highest trending crypto tools.Web3 ai’s Portfolio Optimizer Turns Guesswork Into GainsShiba Inu (SHIBA) Recovery Sparks Renewed Interest After Key Price ReboundCardano (ADA) Prediction: Development Surge Fuels Bullish OutlookStrategy Over Speculation

Coinomedia2025/05/08 21:11
SHIBA’s Hype Fades, ADA Devs Work; Meanwhile, Web3 ai Becomes Highest Trending Crypto With $500K Frenzy