House Oversight Committee Launches Full Investigation into Unlawful Practice
Washington, D.C. (Jan. 24, 2025) – Today, Blockchain Association, along with some of the most important digital asset companies and investors, received a letter from the House Committee on Oversight and Government Reform investigating the issue of debanking.
Blockchain Association first launched an investigation into this unlawful, discriminatory practice in March 2023, sending Freedom of Information Act requests to the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, and the Office of the Comptroller of the Currency, requesting documents and communications involving the debanking of crypto firms in the United States.
Once again, the Association is asking all impacted crypto industry participants to come forward and submit their story to [email protected] as it gathers industry input and information for the House Oversight Committee.
“Under the leadership of President Trump, Senator Lummis, Chairman Comer, and so many other leaders in Congress, we are grateful to assist in the thorough investigation of this pernicious practice,” said Blockchain Association CEO Kristin Smith. “Lawful crypto organizations and individuals need bank accounts to pay rent, pay taxes, and pay employees – denying them these basic financial services is wrong and should never happen in the United States of America. We’re eager to get to the bottom of this and end this unlawful practice once and for all.”
About Blockchain Association: Blockchain Association is the collective voice of the cryptocurrency industry. Our members include the sector’s leading investors, companies, and projects, working together to support a future-forward, pro-innovation national policy and regulatory framework for the crypto economy. Find us at theblockchainassociation.org. Follow us @BlockchainAssn.
