Operation Chokepoint 2.0: How the Biden Administration Targeted Crypto


I suspected that Gary Gensler wouldn’t have acted so boldly without guidance from above. Otherwise, he would have soon left the office. However, the unpleasant truth emerged, and we now know about the real attitude of Biden’s administration toward the cryptocurrency sector. 


It turned out that the cryptocurrency industry has become a victim of debanking. Documents revealed secret recommendations of the Biden administration to banks. The government instructed banks not to provide liquidity to crypto users. This operation was known colloquially as "Operation Chokepoint 2.0." Numerous letters were sent to banks with a calling to pause all crypto-asset related activity. Tech investor Marc Andreessen said that over 30 crypto projects were debanked for political reasons. 


This is unbelievable. This was a direct blow to innovation and financial freedom. Experts compared these coordinated efforts to stifle crypto with a shot in the back. This debanking strategy has shaken trust in the fairness of the financial system.


#CryptoDebanking  #Cryptocurrency #CryptoRegulation #MarcAndreessen #CryptoNews #DeFi #Blockchain #FinancialFreedom

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