The U.S. House of Representatives is officially investigating whether leading crypto firms were secretly “debanked” during the Biden administration.
On Friday, Rep. James Comer (R-KY), chair of the House Oversight Committee, informed numerous industry founders and lobbyists that the inquiry is already underway.
“The Committee… is investigating improper debanking of individuals and entities based on political viewpoints or involvement in certain industries such as cryptocurrency and blockchain,” Comer wrote, in a letter sent to Andreessen Horowitz co-founder Marc Andreessen, Coinbase CEO Brian Armstrong, and Uniswap founder Hayden Adams, among others.
For years, top crypto executives have claimed that former President Joe Biden’s administration pressured U.S. banks to deny them services, as a means to strangle the industry’s ability to function.
Though numerous Biden officials—including former SEC head Gary Gensler—denied any involvement in such a plot, dubbed “Operation Choke Point 2.0,” recently disclosed correspondences between the FDIC and member banks do appear to show a coordinated push to freeze the adoption of crypto in Ameri…
