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U.S. Senate's Banking Chair Pushes Debanking Bill After Crypto Uproar

Senator Tim Scott, the chief of the banking committee, is backing a bill to stop U.S. regulators from citing "reputational risk" as a reason to block clients.

Senator Scott will be the next chairman of the Senate Banking Committee
Senator Tim Scott, chairman of the Senate Banking Committee, has a bill meant to ward off debanking. (Jesse Hamilton/CoinDesk)