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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".
Operation Choke Point 2.0: The 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?