This is a very good development. This letter demonstrates the deep concern of the U.S. Congress regarding the phenomenon of "de-banking" of financial institutions in the political and industry context, especially its impact on the cryptocurrency and blockchain industry. The committee hopes to ensure that businesses and individuals can fairly participate in market activities through its investigation. In simpler terms, it addresses cases where financial institutions have refused to provide services due to political views or businesses related to cryptocurrency and blockchain.

The letter is dated January 24, 2025, and is signed by James Comer, the Chairman of the House Committee on Oversight and Government Reform.

The recipients of the letter include several key figures in the cryptocurrency and blockchain field, such as the founder of Uniswap, the CEO of Coinbase, and partners at Andreessen Horowitz. It specifically mentions that executives from companies like Coinbase and Uniswap have publicly stated that their accounts were closed or banking services were denied, actions that are seen as targeting the crypto industry.

The committee clearly states that its purpose is to understand why these financial institutions and regulators made these decisions and how these actions have affected business operations.

The letter concludes by urging the recipients to assist in the investigation to ensure that participants in the U.S. market do not suffer unfair treatment due to political or regulatory overreach.

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