Oversight committee Republicans launch debanking investigation
While Democrats are calling for an investigation into Donald Trump’s potential conflicts of interest on crypto, House Republicans said they would explore debanking claims.
The US House Committee on Oversight and Government Reform, under the control of Republican lawmakers, wrote to the CEOs of crypto firms and associations announcing an investigation into claims that individuals or entitles had been debanked based on their ties to the digital asset industry.
In a Jan. 24 letter to six crypto industry leaders, Chair James Comer said the oversight committee would explore claims that either financial institutions or representatives of the US government attempted to debank certain individuals.
The investigation — based in part on public statements from Uniswap Labs founder and CEO Hayden Adams, Coinbase CEO Brian Armstrong, Kraken founder Jesse Powell, and Lightspark co-founder and CEO David Marcus — will seek information from the Blockchain Association and other industry leaders over the claims.
“The Committee seeks to ensure that entrepreneurs are not unfairly targeted and, by extension, that all Americans are able to participate in US markets without fear of retaliation through illicit measures undertaken by financial institutions or federal regulators,” wrote Representative Comer.
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Author: Turner Wright
