Three Republican members of the US House of Representatives Financial Services Committee have written to the head of the US banking regulator seeking information on possible coordinated action against digital asset firms. The letters follow up earlier letters sent by lawmakers to the same address.
The letters, dated April 25, were addressed to Federal Deposit Insurance Corporation (FDIC) Chairman Martin J. Gruenberg, Federal Reserve Chairman Jerome Powell, and Office of the Comptroller of the Currency (OCC) Acting Comptroller Michael J. Hsu. The letters contained The same text and a personalized set of requests to see the agencies' records.
The letters first recalled what the Obama administration called Operation Choke Point, which encouraged banks to deny service to certain types of businesses. They continued: “Today, we see renewed coordinated action by federal prudential regulators to stifle innovation in the Unit ed States. Nowhere is This clearer than in the digital asset ecosystem. , And a Joint Statement issued by the three agencies in january. They said that design "Ordinary Fraud" " In the crypto industry, "digital asset activity is not inherently risky." also:
"Overall, The Actions of the Fed, FDIC, and OCC Do Not APPER to be a Reaction to Reserve Events or The Result of a Sudden Desire to Protect Financial InstitutUTUTUTINS FR OM RISKY BeHAVIOR, But Instead Suggest A CoordinalEd Strategy to Unwind Bank American Digital Asset ecosystem."
The authors, Representatives Patrick McHenry, Bill Huizenga, and French Hill, requested a non-public record of communications between employees of each agency involved and the agencies they oversee regarding the cited documents.
