Ripple chief legal officer exposes the hidden war of U.S. regulators against the cryptocurrency industry

Odaily星球日报讯 Ripple chief legal officer Stuart Alderoty emphasized that he believes U.S. regulators have meticulously planned to strangle the cryptocurrency industry. In recent years, the cryptocurrency industry has faced significant challenges, which the industry refers to as 'Operation Chokepoint 2.0', a coordinated action taken by U.S. regulators to restrict banking services related to cryptocurrencies. Alderoty recently shared his views on Operation Chokepoint 2.0 on the social media platform X, mentioning an initiative from 2012 where agencies like the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve, and the Office of the Comptroller of the Currency (OCC) pressured banks to stop providing services to certain industries. Alderoty believes that cryptocurrencies have now become the main focus of similar strategies, pointing out that in 2012, regulators (FDIC, OCC, Federal Reserve) used banking weapons against unpopular industries (gun stores, payday loan agencies, etc.) under the initial 'Operation Chokepoint'. Fast forward to 2021: cryptocurrencies are the new target.