Operation Choke Point 2.0: The Third Crypto War?
In this article, I analyze increased US regulatory pressure dubbed "Operation Choke Point 2.0" challenging crypto companies, examining pushback through Congressional hearings and lawsuits, shifts in banking relationships, and whether this constitutes a "Third Crypto War".
Summary: Increased regulatory pressure in the US, dubbed "Operation Choke Point 2.0," poses challenges for crypto companies but may spur legal and Congressional pushback, prompting questions on whether a "Third Crypto War" is emerging.
Challenges and accusations:
- Lawsuits, denied applications, animosity towards crypto.
- "Choke Point 2.0" restricts crypto's banking access.
- SEC targeting crypto companies frequently.
Regulatory counterarguments:
- Focus is risk management and consumer protection.
- Not deliberately targeting crypto industry.
Role of larger banks:
- JPMorgan and Citi now servicing crypto firms.
- Signals growing acceptance and support.
Effects on crypto companies:
- Some exploring moves abroad due to US regulatory uncertainty.
- Others facing hurdles staying in US market.
Congressional and legal actions:
- Hearings increasingly focused on crypto regulation.
- Lawsuits signal pushback from crypto firms.
Future outlook in US:
- Opinions split on whether it's a "Third Crypto War."
- But certainly increased tensions between regulators and industry.
Full article:
Operation Choke Point 2.0: The Third Crypto War? | CoinMarketCap
Increased regulations and uncertainty is prompting some industry experts to call the crypto crackdown “Operation Choke Point 2.0.” Could a third crypto war be underway?
CoinMarketCap