How Crypto Insiders Turned ‘Debanking’ Into a Political Storm
Published On Dec 10, 2024, 5:03 AM
This article discusses the challenges faced by cryptocurrency companies, such as Eco, in obtaining and maintaining banking relationships in the U.S. due to increased regulatory scrutiny and compliance pressures from banks. As the government applies more stringent rules on crypto firms, many have found it nearly impossible to secure banking services, leading to claims of a systemic effort to suppress the crypto industry. Prominent figures in the crypto space have criticized this situation as harmful, unconstitutional, and damaging to innovation, urging action against perceived regulatory overreach.