Congress Tackles Banking Access Challenges for Crypto Companies – BitRss

This week, discussions in Congress focused on the difficulties faced by businesses lacking access to financial services and how this impacts the crypto sector. Allegations suggest that policies implemented under the name “Operation Choke Point 2.0” are making it harder for crypto companies to access banking services.

Senate and House Committee Sessions

On Wednesday at 10:00 AM, the Senate Banking Committee held its first session featuring Brookings Institution researcher Aaron Klein, Anchorage Digital CEO Nathan McCauley, Davis Wright Tremaine partner Stephen Gannon, and Old Glory Bank CEO Mike Ring. The session examined the Biden administration’s financial service restrictions based on political motives.

Discussions on the Debanking Process

Additionally, the House Financial Services Subcommittee held a session addressing claims that banking access for crypto companies is being restricted. Key figures, including Coinbase Chief Legal Officer Paul Grewal, NYU professor and WSPN CEO Austin Campbell, Marathon Digital Holdings CEO Fred Thiel, and Better Markets Banking Policy Director Shayna Olesiuk, evaluated the scope of …