CoinVoice has learned that, according to DL News, the senior officials of the U.S. Securities and Exchange Commission (SEC) have given high attention to the phenomenon of cryptocurrency companies and their executives being shut out by banks. In comments on Wednesday, SEC Commissioner Hester Peirce expressed doubts about a nearly $400 million budget for 2025 proposed by the Public Company Accounting Oversight Board (PCAOB). Peirce pointed out that the PCAOB decided to focus on companies that hold large amounts of cryptocurrency or facilitate cryptocurrency trading. She stated, 'In recent weeks, the regulators' efforts to prevent regulated entities from entering the cryptocurrency space have become public.'
In deciding not to approve the PCAOB's budget request, Peirce further inquired how the board could choose the subjects of investigation while not discouraging auditors, issuers, and broker-dealers from entering the cryptocurrency space. However, Peirce's opinion was not adopted, as three other commissioners, including SEC Chairman Gary Gensler, voted against it.
Previously, the cryptocurrency industry had accused that it was being collectively pushed out of the traditional banking system for several weeks. In this context, Peirce made the above comments. Cryptocurrency venture capitalist Nic Carter referred to this so-called exclusion as 'Operation Choke Point 2.0'. [Original link]