Republicans "Collecting Cases of Crypto Discrimination" vs Democrats "Investigate Trump Meme Coin"

The Republican party has announced plans to collect cases of discrimination against cryptocurrency companies by the previous administration.

On the 24th (local time), according to the cryptocurrency specialized media Cointelegraph, James Comer, Chairman of the Government Reform Committee, sent letters to executives of cryptocurrency companies and associations, stating that they would look for cases where the cryptocurrency industry was discriminated against under the administration of former President Joe Biden.

In the letter, Chairman Comer stated, "The committee ensures that companies are not unfairly targeted and that all Americans can participate in the market without fear of retaliation through illegal actions by financial institutions or federal regulatory agencies."

The letter was sent to Hayden Adams, CEO of Uniswap (UNI), Brian Armstrong, CEO of Coinbase, Jesse Powell, founder of Kraken, and David Marcus, CEO of Lightspark.

A representative case of unfairness is the regulation known as 'Operation Choke Point 2.0'. This regulation is evaluated as having blocked new funds from entering the cryptocurrency industry by unfairly stopping banking services for cryptocurrency industry personnel within the United States.

The conflict between the two major parties in the U.S. over cryptocurrency seems to be intensifying.

Previously, on the previous day, Democratic Senators Elizabeth Warren and Jake Auchincloss (both from Massachusetts) sent letters to the Securities and Exchange Commission (SEC), Commodity Futures Trading Commission (CFTC), Department of the Treasury, and Office of Government Ethics (OGE) requesting an investigation into the appropriateness of the Official Trump (TRUMP) and Melania (MELANIA) meme coins.

They argued in the letter that the Trump couple's meme coins imply the possibility of enrichment using their position, fraud related to virtual assets, and conflicts of interest. They also pointed out issues with the meme coin terms that could hurt supporters who purchased them due to volatility and hinder participation in class-action lawsuits.