The U.S. House of Representatives has initiated an investigation into allegations of improper debanking of cryptocurrency firms during the Biden administration. Rep. James Comer, chair of the House Oversight Committee, sent letters to notable figures in the crypto industry, including Coinbase's Brian Armstrong and Uniswap's Hayden Adams, seeking details about their experiences with banking services. The inquiry seeks to uncover whether financial institutions were pressured to deny services to crypto entities based on political viewpoints. The investigation is partly fueled by claims from industry executives, including Andreessen Horowitz's Marc Andreessen, who spoke out on the perceived targeting of crypto firms. Comer has expressed concerns that this practice may be influenced by government regulators, paralleling narratives of broader economic persecution against individuals in the crypto space. This inquiry comes amidst shifts in the federal government's approach to crypto under the new Republican majority, with recent actions including the easing of regulations that previously hindered banking relationships for those in the industry.

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