Rep. James Comer (R-KY), chairman of the House Oversight Committee, is investigating allegations that cryptocurrency firms were subjected to debanking, when a bank closes an account believed to pose financial risk with little notice, under the Biden administration.
Comer sent a letter to at least six industry leaders, including Andreessen Horowitz co-founder Marc Andreessen, Coinbase CEO Brian Armstrong, Blockchain Association CEO Kristin Smith, Uniswap Labs CEO Hayden Adams, Lightspark CEO David Marcus, and Payward CEO Dave Ripley, to corroborate their experiences with debanking.
“The Committee seeks to ensure that entrepreneurs are not unfairly targeted and, by extension, that all Americans are able to participate in U.S. markets without fear of retaliation through illicit measures undertaken by financial institutions or federal regulators,” Comer wrote.
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