The Blockchain Association, in collaboration with key digital asset companies and investors, has received a letter from the House Committee on Oversight and Government Reform. The letter concerns an investigation into the practice of debanking.

The Blockchain Association began its inquiry into this issue in March 2023. It sent Freedom of Information Act requests to several federal agencies, including the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, and the Office of the Comptroller of the Currency. These requests sought documents and communications related to the debanking of cryptocurrency firms in the United States.

The association is now calling on affected participants in the crypto industry to share their experiences by contacting [email protected]. This effort aims to gather information for the House Oversight Committee's investigation.

Kristin Smith, CEO of Blockchain Association, stated: “Under the leadership of President Trump, Senator Lummis, Chairman Comer, and so many other leaders in Congress, we are grateful to assist in the thorough investigation of this pernicious practice.” She emphasized that "lawful crypto organizations and individuals need bank accounts to pay rent, pay taxes, and pay employees – denying them these basic financial services is wrong and should never happen in the United States of America." Smith expressed eagerness "to get to the bottom of this and end this unlawful practice once and for all."

The Blockchain Association represents various stakeholders within the cryptocurrency industry. Its members include leading investors, companies, and projects focused on promoting a forward-thinking national policy framework for cryptocurrencies.