ChainCatcher news, according to DL News, the phenomenon of cryptocurrency companies and their executives being shut out by banks has garnered significant attention from senior officials at the U.S. Securities and Exchange Commission (SEC). In comments made on Wednesday, SEC Commissioner Hester Peirce questioned a nearly $400 million budget for the 2025 fiscal year proposed by the Public Company Accounting Oversight Board (PCAOB). Peirce pointed out that PCAOB decided to focus on companies that hold large amounts of cryptocurrency or facilitate cryptocurrency trading. She stated, 'In recent weeks, the attempts by regulators to prevent regulated entities from engaging in the cryptocurrency space have become public.'
In deciding not to approve PCAOB's budget request, Peirce further inquired how the board chose its investigative targets 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 has accused that it is being systematically excluded from the traditional banking system for several consecutive weeks. Against this backdrop, Peirce made the aforementioned comments. Cryptocurrency venture capitalist Nic Carter referred to this alleged exclusion as 'Operation Choke Point 2.0.'
