Leading US financial institutions JPMorgan Chase, Citigroup, and Bank of America are responding to allegations of debanking practices as regulatory oversight intensifies.
The scrutiny coincides with reports that the Trump administration is actively considering issuing an executive order pertaining to Bitcoin and cryptocurrencies, signaling potential shifts in federal policy.
Adding to the regulatory discourse, Marc Andreessen, co-founder of venture capital firm Andreessen Horowitz (a16z), has publicly asserted that US regulators have operated without proper legal authority concerning cryptocurrency matters over the past four years.
The Wall Street Journal has reported on the heightened oversight within the financial sector, specifically highlighting the involvement of these major banks.