{"id":294650,"date":"2025-01-24T20:58:58","date_gmt":"2025-01-24T20:58:58","guid":{"rendered":"https:\/\/newhampshiredigitalnews.com\/index.php\/2025\/01\/24\/us-congress-starts-investigating-crypto-debanking-allegations\/"},"modified":"2025-01-24T20:58:58","modified_gmt":"2025-01-24T20:58:58","slug":"us-congress-starts-investigating-crypto-debanking-allegations","status":"publish","type":"post","link":"https:\/\/newhampshiredigitalnews.com\/index.php\/2025\/01\/24\/us-congress-starts-investigating-crypto-debanking-allegations\/","title":{"rendered":"US Congress starts investigating crypto debanking allegations"},"content":{"rendered":"<p> <br \/>\n<br \/><img decoding=\"async\" src=\"https:\/\/crypto.news\/app\/uploads\/2024\/06\/crypto-news-Corruption-USA01.webp\" \/><\/p>\n<div>\n<p class=\"is-style-lead\">The U.S. House Oversight Committee has launched an investigation into alleged debanking practices targeting crypto companies.\u00a0<\/p>\n<p>On Friday, Committee Chair James Comer <a href=\"https:\/\/oversight.house.gov\/wp-content\/uploads\/2025\/01\/2025-01-24-Letter.pdf\" target=\"_blank\" rel=\"nofollow noopener\">sent letters<\/a> to prominent crypto executives, including <a rel=\"\" href=\"https:\/\/crypto.news\/tag\/Coinbase\/\">Coinbase<\/a> CEO Brian Armstrong and Uniswap founder Hayden Adams, seeking information about reported banking restrictions.<\/p>\n<p>The inquiry aims to assess whether financial institutions acted independently or were influenced by <a rel=\"\" href=\"https:\/\/crypto.news\/coinbase-clo-fdic-was-trying-to-cover-up-its-actions-aimed-to-debank-crypto-clients\/\">government pressure<\/a> to deny services to crypto firms.\u00a0<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">1\/ Today we, along with some of the most important crypto companies and investors, received a letter from <a href=\"https:\/\/twitter.com\/GOPoversight?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow noopener\">@GOPoversight<\/a> asking for information on the recent debanking of lawful companies and individuals.<\/p>\n<p>We\u2019re grateful for <a href=\"https:\/\/twitter.com\/RepJamesComer?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow noopener\">@RepJamesComer<\/a>\u2019s leadership on this critical issue.<\/p>\n<p>\ud83e\uddf5 <a rel=\"nofollow noopener\" href=\"https:\/\/t.co\/vTvT88jZAB\" target=\"_blank\">pic.twitter.com\/vTvT88jZAB<\/a><\/p>\n<p>\u2014 Blockchain Association (@BlockchainAssn) <a href=\"https:\/\/twitter.com\/BlockchainAssn\/status\/1882842965338693864?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow noopener\">January 24, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>These allegations, referred to as \u201cOperation Choke Point 2.0,\u201d draw parallels to an <a rel=\"\" href=\"https:\/\/crypto.news\/continuing-the-barack-obama-tradition-what-is-choke-point-2-0\/\">Obama-era initiative<\/a> that targeted industries deemed high-risk for fraud. Recent reports suggest that federal regulators may have coordinated efforts to restrict crypto firms\u2019 access to traditional banking services.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h2 class=\"wp-block-heading\">Crypto\u2019s regulatory turbulence in recent years<\/h2>\n<p>The investigation follows <a rel=\"\" href=\"https:\/\/crypto.news\/secs-regulatory-hammer-falls-opensea-custodia-and-the-revival-of-operation-choke-point-2-0\/\">years of complaints<\/a> from crypto founders about abrupt account closures and banking hurdles, particularly during the Biden administration.\u00a0<\/p>\n<p>Lawmakers have expressed concerns that <a rel=\"\" href=\"https:\/\/crypto.news\/coinbase-clo-shares-data-on-crypto-hedge-funds-debanking-demands-for-answers\/\">debanking stifles innovation<\/a> and pushes technological advancements overseas.\u00a0<\/p>\n<p>The committee also highlighted potential political discrimination, citing claims from industry leaders and First Lady Melania Trump\u2019s memoir, which described a similar experience.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><br \/>\n<br \/><a href=\"https:\/\/crypto.news\/us-congress-starts-investigating-crypto-debanking-allegations\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. House Oversight Committee has launched an investigation into alleged debanking practices targeting crypto companies.\u00a0 On Friday, Committee Chair James Comer sent letters to<\/p>\n","protected":false},"author":1,"featured_media":294651,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[163],"tags":[],"class_list":["post-294650","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newhampshiredigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/294650","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newhampshiredigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newhampshiredigitalnews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newhampshiredigitalnews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newhampshiredigitalnews.com\/index.php\/wp-json\/wp\/v2\/comments?post=294650"}],"version-history":[{"count":0,"href":"https:\/\/newhampshiredigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/294650\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newhampshiredigitalnews.com\/index.php\/wp-json\/wp\/v2\/media\/294651"}],"wp:attachment":[{"href":"https:\/\/newhampshiredigitalnews.com\/index.php\/wp-json\/wp\/v2\/media?parent=294650"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newhampshiredigitalnews.com\/index.php\/wp-json\/wp\/v2\/categories?post=294650"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newhampshiredigitalnews.com\/index.php\/wp-json\/wp\/v2\/tags?post=294650"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}