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Crypto's Debanking Worries Hit Another Big Stage in U.S. House

Summary by Coin Desk

The chief lawyer of U.S. crypto exchange Coinbase (COIN) testified about the abuse of authority from regulators who erected barriers between banks and crypto firms in a hearing of the House Financial Services Committee on Thursday, marking the latest advance in the digital assets industry's reversal of policy resistance in Washington.Coinbase Chief Legal Officer Paul Grewal's complaints about "regulation by exhaustion" were met with wide agreeme…

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Bloomberg

Crypto’s ‘Debanking’ Debate Takes Center Stage in Washington

Emily Mason read all the FDIC crypto letters so you don't have to.

1 month ago·United States

Crypto's Debanking Worries Hit Another Big Stage in U.S. House

The industry’s U.S. banking crisis may be retreating as a second congressional committee sheds light on how crypto businesses have been treated by regulators. A U.S. House hearing examined crypto debanking, which a Coinbase lawyer characterized as an "abuse of power." (Jesse Hamilton/CoinDesk) What to know: A Thursday hearing in the House of Representatives on regulatory pressures to cut off U.S. banks from crypto activities further demonstrate…

1 month ago

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CoinGeek

House ‘debanking’ hearing turns to 'crypto' therapy session

The second hearing examined brought the public predictable talking points and one epic rant against those who insist 'this time is different.' The post House ‘debanking’ hearing turns to ‘crypto’ therapy session appeared first on CoinGeek.

1 month ago

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Crypto Breaking News

Senator Warren stands firm on crypto during debanking hearing

The recent remarks made by Senator Elizabeth Warren during a hearing on crypto debanking have sparked conversation and debate within the cryptocurrency community. Warren expressed concerns about the potential risks associated with digital currencies and emphasized the need for regulatory oversight to protect consumers. She highlighted the lack of accountability and transparency in the cryptocurrency market, pointing out the prevalence of scams, …

1 month ago

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