The House Oversight Committee is probing banks for allegedly debanking crypto firms based on political bias. Chairman James Comer addresses this concern amidst reports of 30 tech founders experiencing account shutdowns.

Many cryptocurrency leaders, including Coinbase’s Brian Armstrong, report sudden account closures without notice. The Committee seeks clarity on whether these actions are bank-driven or due to regulatory pressures.

Historical events like Operation Chokepoint raise alarms about the misuse of regulatory power in targeting certain industries. The investigation aims to understand the broader implications for innovation and economic growth.