【Visa and Mastercard face 'scrutiny' threats due to Libra】
'Operation Chokepoint 2.0' has impacted beyond the cryptocurrency industry, affecting tech giants like Visa and Mastercard. Former Coinbase CTO Balaji Srinivasan revealed on platform X that U.S. Congress members had sent letters to Visa, Mastercard, and Stripe, urging them to withdraw from the Meta-supported Libra project, warning that participation would lead to 'intense scrutiny.'
Coingape reported that U.S. Treasury Secretary Janet Yellen was alleged to have played a key role in terminating the Libra project, according to David Marcus's revelations, which were related to letters from Senators Brian Schatz and Sherrod Brown. Balaji stated that this type of scrutiny is essentially a suggestion that regulatory bodies create violations and pressure targets to comply.
Former Visa executive Terry Angelos confirmed that Democratic leaders had warned Visa to scale back its cryptocurrency business. This 'enforcement-style regulation' strategy has become a focal point of concern for crypto leaders regarding the activities of the U.S. Securities and Exchange Commission (SEC). Lawyer John Deaton has called for an investigation into this matter.
The new government will take office on January 20, and the industry is calling for systemic reforms. The newly established 'Department of Government Efficiency' (D.O.G.E.) is led by Elon Musk and Vivek Ramaswamy, aiming to enhance government efficiency. Musk expressed concern over the revelations of 'Operation Chokepoint 2.0,' and it remains uncertain whether related committees will conduct further investigations.
