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The supervision of supervision is investigating that banks are closing companies and individuals and quoting political bias and overlapping overlap as key concerns.
House Committee is investigating if banks quietly crush the company’s crypto
The House of Supervision and Government Reform announced on January 24 that it is investigating debating individuals and enterprises, especially those in the cryptocurrency and blockchain industry, with citing potential political bias. President James COMER demanded information from the head of the technique, including Marc Andreessen, COINBASE CEO Brian Armstrong and UNISWAP LABS CEO Hayden Adams to understand the scope of the problem. COMER said:
The supervision and government reform Committee investigates incorrect discussions of individuals and entities based on political aspects or involvement in some industries such as cryptomera and blockchain.
This investigation monitors that 30 technology founders have been eliminated for their political association, which is Andreessen’s claim during the recent appearance of a podcast.
The survey emphasizes the concerns of the leaders of the cryptocurrency, many of which have publicly shared their experience with the sudden closure of the bank account. As comer noted, “Several technological leaders in the cryptocurrency area have been opened on the fact that their experience has been enlightened.” Hayden Adams revealed that his accounts were closed without prior warning while Coinbase’s Brian Armstrong claimed that former Chairman of the Securities Commission and GARY GENSLER Stock Exchange tried to “unladen” the crypto industry. Paul Grewal, the Chief Legal Director of Coinbase, accused the financial regulatory bodies of employing “more tools” to underline digital assets. In addition, David Marcus, CEO of Lightspark, revealed that his company’s account was terminated, even though he had followed the terms and conditions.
The Committee also examines whether these practices come from financial institutions or are powered by implicit or explicit control pressures. Past incidents, such as Chokepoint Operation under Obama’s administration, have raised questions about abuse of regulatory powers to target the industry.
Another support of the investigation is the news from the former First Lady of Melania Trump, who revealed in her memory that her family was levied for political reasons. Kristin Smith Association Blockchain Association criticized these actions and claimed that they were unjustly denying access to the basic financial service. COMER emphasized the objective of the investigation to assess how these practices harm innovations, entrepreneurs and a wider economy.
