Phyrex
Phyrex|Jan 24, 2025 17:47
This is a very good development, as this letter demonstrates the deep concern of the US Congress about the phenomenon of "de banking" of financial institutions in political and industry contexts, particularly its impact on the cryptocurrency and blockchain industries. The committee hopes to ensure fair participation of businesses and individuals in market activities through investigation. Cases of being refused services by financial institutions due to political views or business related to cryptocurrency and blockchain. The letter is dated January 24, 2025 and signed by James Comer, Chairman of the House Oversight and Government Reform Committee. The recipients of the letter are several important figures in the cryptocurrency and blockchain fields, including the founder of Uniswap, CEO of Coinbase, and Andreessen Horowitz partner. Specifically, executives from companies such as Coinbase and Uniswap have publicly stated that their accounts have been closed or banking services have been denied, which is considered targeted towards the cryptocurrency industry. The committee explicitly stated that its purpose is to understand why these financial institutions and regulators made these decisions, and how these actions affect business operations. The letter concludes by calling on the recipient to assist in the investigation and ensure that participants in the US market do not suffer injustice due to political or regulatory overreach.
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