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Congressional committees investigate if Biden administration targeted crypto firms by cutting banking services.
U.S. Congressional committees are investigating whether financial regulators during the Biden administration targeted the cryptocurrency industry by cutting off banking services.
The House Oversight Committee and Senate Banking Committee plan hearings in February to determine if these "debanking" practices are due to financial institutions or government pressure.
The investigation follows complaints from crypto firms and tech leaders that their bank accounts were closed without clear reasons, impacting their operations.
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