A redacted report detailing the Federal Deposit Insurance Corporation's internal interactions over cryptocurrency-related banking practices has renewed calls for accountability from U.S. financial regulators, and attorney
attorney John E. Deaton, a prominent #cryptocurrency advocate and former Senate candidate, called on Congress to investigate what he said was a concerted attempt by regulators to marginalize the digital asset sector through Operation ChokePoint 2.0
The documents, first released by publicly traded #cryptocurrency exchange #Coinbase under court order in November, contain FDIC guidance recommending that banks suspend cryptocurrency-related services.
Operation Chokepoint 2.0: Cryptocurrency Founders Silenced by secret debunking of their secret?
What happens when more than 30 tech company founders lose access to banking services without warning? According to Mark Andriesen, it's not an accident, but a government conspiracy. Andriesen, co-founder of venture capital firm Andriesen Horowitz, argues that the Biden administration is using financial exclusion as a weapon in an operation he calls Operation Chokepoint 2.0. Speaking Tuesday on the Joe Rogan Experience podcast, Andriesen revealed that over the last four years, more than 30 founders have been delisted.
critics, including Deaton, say the directive is an attempt to restrict access to critical financial infrastructure. They say it is a deliberate attempt that could lead to a stranglehold on legitimate businesses in the emerging sector.
What we have learned so far suggests multiple agencies are acting in concert, guided more by political objectives than sound policy or law, Deaton wrote on Twitter on Saturday. Deaton, who ran unsuccessfully for the Massachusetts Senate in 2024 against Sen. Elizabeth Warren in favor of #cryptocurrencies , said the implications of ChokePoint 2.0 go beyond the crypto industry.
It's not just cryptocurrency. It's not just a battle. It's a battle against the erosion of institutional integrity and the unchecked power of unelected bureaucrats.
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