On June 25, the Chairman for the House Committee on Oversight and Government Reform, Rep. James Comer (R-KY), sent a letter to OCC Acting Comptroller Rodney Hood requesting documents and communications related to the permissibility and supervision of crypto and crypto-related business activities by banks. The Committee will be investigating allegations of debanking based on political viewpoints or involvement in the cryptocurrency and blockchain industries. The letter stated the investigation will focus on whether such actions were self-initiated by financial institutions or directed by regulators. The Committee requested documents and communications between the OCC and financial institutions, as well as among federal regulators, by July 9.
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