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US Senate to hold hearing investigating debanking claims against banks in an hour

The US Senate is focusing on debanking claims, which deny financial services to businesses, notably in the crypto industry. The hearing, chaired by Senator Tim Scott, will feature testimonies from industry leaders like Nathan McCauley of Anchorage Digital, expressing concerns over unfair treatment.

The session aims to foster dialogue on creating clearer regulations. The banking sector advocates for simplification of anti-money laundering processes while facing scrutiny over their compliance practices. Scott aims to shape a favorable regulatory framework for digital assets.

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