The U.S. House of Representatives, led by Rep. James Comer, is investigating alleged debanking practices affecting crypto firms during the Biden administration. In a letter to industry leaders, the inquiry addresses claims that banks were pressured to deny services to crypto firms based on political views. This comes amid accusations that some financial institutions halted banking services for individuals in the crypto space. The investigation is looking into the origins of these practices, questioning whether they stem from the financial sector itself or from governmental pressure. Crypto leaders express eagerness to cooperate, highlighting the need for legal banking services. The inquiry aligns with recent comments from high-profile crypto executives who reported significant disruptions to banking access during Biden's tenure. On a related note, President Trump's recent policies have shifted the federal approach to crypto, emphasizing support for the industry.

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