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10 February 2025

Senate Banking Committee examines ‘debanking’ of crypto firms and other customers deemed high-risk

Republicans blame regulators’ policies: Warren says CFPB rules would address debanking.

The Senate Banking Committee on February 5 held a hearing on “Investigating the Real Impacts of Debanking in America.” The witnesses were Nathan McCauley, CEO, Anchorage Digital; Stephen Gannon, Partner, Davis Wright Tremaine LLP; Mike Ring, President and CEO, Old Glory Bank, Elmore City, OK; and Aaron Klein, Senior Fellow in Economic Studies, Brookings Institution.

Materials from the hearing are posted here.

Additional information is also available in the attached Tax Alert.

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Attachment

Senate Banking Committee hearing on crypto firms

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Contact Information

For additional information concerning this Alert, please contact:

Washington Council Ernst & Young

Published by NTD’s Tax Technical Knowledge Services group; Andrea Ben-Yosef, legal editor

Document ID: 2025-0448

 

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