The Blockchain Association, one of the largest crypto lobbying groups, is investigating what it says is the potential “de-banking of crypto firms” following the failure of three banks over the past month.

The group sent Freedom of Information Act requests to the Federal Deposit Insurance Corporation, the Federal Reserve and the Office of the Comptroller of the Currency, asking for documents and communications regarding the issue.

“We see smoke that indicates a fire – the FOIA requests are intended to uncover the truth behind the potential de-banking of crypto firms in the U.S., including learning more about possible account closures of law-abiding crypto businesses," Kristin Smith, the group's CEO, said in an emailed statement.