The US House Oversight Committee has launched an investigation into alleged debanking practices targeting crypto companies. The committee chair, James Comer, sent letters to prominent crypto executives, including Coinbase CEO Brian Armstrong and Uniswap founder Hayden Adams, seeking information about reported banking restrictions. The investigation aims to determine whether financial institutions acted independently or were influenced by government pressure to deny services to crypto firms. This investigation follows years of complaints from crypto founders about abrupt account closures and banking hurdles, with concerns raised about stifling innovation and pushing technological advancements overseas. The allegations are being compared to the Obama-era initiative called "Operation Choke Point" that targeted high-risk industries for fraud.



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