US Oversight Committee Investigates Operation Choke Point 2.0
The Blockchain Association announced today that it received a letter from the House Oversight Committee requesting information regarding Operation Choke Point 2.0.
The Senate Banking Committee will also hold its own hearings in early February, further increasing scrutiny from federal regulators.
Operation Against Chokepoint 2.0
for Many leading figures in the crypto communityOperation Choke Point 2.0 Yes Key examples of government overreach in space.
The campaign involves federal regulators pressuring banks not to do business with cryptocurrency businesses, and documents proving its existence Keep surfacing. However, some regulators and financial leaders have called it a scam.
Today, however, the federal government is taking proactive steps Stop Operation Chokepoint 2.0 before it achieve its main goal.
To this end, the House Oversight Committee issued a letter Blockchain Association and other influential organizations Cryptocurrency Companyasking them to provide evidence of foul play:
“Today, we, along with some of the most important cryptocurrency companies and investors, received a letter from the House Oversight Committee requesting information regarding the recent cancellation of legitimate corporate and personal banking services. We are pleased that this issue is a priority this week .Figuring this out is critical to American innovation,” it claimed.
The Blockchain Association is an important group represents industrial political interestsand warmly welcome this request for inquiry. The organization places a high priority on stopping Operation Choke Point 2.0 and listed it as a key issue in its post-election letter to President Trump.
The association is also lobbying other lawmakers, and those efforts are bearing fruit. James Comer, current chairman of the House Oversight Committee, Already objecting to Gary Gensler’s approach to financial regulation.
Commission official media release Publicly questioning how the SEC under Biden took its cues from previous administrations, suggesting it drew inspiration directly from the original Operation Choke Point.
“But that’s not actually happening — we’ve heard this or something similar many times over the years regarding ‘bottleneck 2.0’ and people involved in cryptocurrencies and politics being debanked. I think we’re pretty You’ll soon find out how true it is.” Wrote Analyst James Seifert.
The House Oversight Committee is not the only body looking to investigate the de-banking of cryptocurrencies. The Senate Banking Committee is also working on a hearing Regarding this issue, refer directly to Operation Choke Point 2.0.
Between the two committees, both the House and Senate are launching complementary initiatives. That said, this level of scrutiny will undoubtedly reveal useful information.
Documentation on the original Operation Chokepoint It will still surface by 2025, but we still don’t have a complete understanding. The government has shown a real willingness to work with the cryptocurrency industry, which presents a powerful opportunity.
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