U.S. Senate Banking Committee Announces Witness List for Crypto Industry Debanking Hearing

Uk Jin

Summary

The U.S. Senate Banking Committee announced it will hold a hearing related to debanking in the crypto industry.
Key witnesses include Nathan McCauley, CEO of the crypto staking service company Anchorage.
CEO McCauley stated that a specific bank refused service due to their engagement in the crypto business.

Amid allegations that several banks engaged in debanking (unilaterally freezing accounts) against the crypto industry during the previous administration, the U.S. Senate Banking Committee (GOP) is holding a related hearing.

On the 29th, Eleanor Terrett, a Fox Business News reporter, announced on X (Twitter) that "the GOP has released the witness list for the debanking hearing today. Key witnesses include Nathan McCauley, CEO of Anchorage, a crypto staking custody service company."

Previously, in December, CEO McCauley testified at a House Financial Services Committee hearing that "in January 2023, a specific bank refused service because we were engaged in the crypto business."