Committees in both the House and Senate will hold hearings this week about debanking — a term that means different things to different people.

A letter from three law firms retained by Coinbase argued that existing federal laws and regulations already authorize banks to provide cryptocurrency services and to engage with third-party service providers like Coinbase.

The cryptocurrency exchange made the move to follow the Markets in Crypto-Assets Regulation, which tightens rules for digital assets in the European Union.

Non-stablecoin cryptocurrencies have no inherent value, so creating a federal "reserve" of them is absurd on its face. Chinese hacking of bitcoin will have no significant economic impact.

The Federal Reserve chair said banks are well situated to handle risks related to crypto customers, but added that regulatory scrutiny of banks' direct engagement with the assets will be greater than for simple custody arrangements.

The Czech Republic's central bank plans to shift billions of reserves to bitcoin. Plus Australia and the Netherlands crack down on BNPL, and other news from the world of payments.

There are reasons to be cautious about how a strategic reserve of the cryptocurrency is established, but the economic arguments for including it in the federal government's portfolio are strong.

Circle and other payment executives say Trump's stated support for digital assets will remove hurdles that have held back support from merchants and consumers.

The Senate Banking Committee and House Oversight Committee will hold hearings next week on banks dropping customers, an issue that has gained currency from crypto enthusiasts in recent months.

The executive order also calls for regulations to be written for the digital asset industry.