A federal initiative that began during the Obama administration with the goal of debanking certain industries disfavored by federal officials has apparently been resurrected and is taking aim at cryptocurrencies.
Operation Choke Point was started by the U.S. Dept. of Justice in 2013 as a way to put pressure on banks to sever their ties, without due process, with legal businesses like gun dealers, cannabis dispensaries and payday lenders which the administration found objectionable.
That initiative was ended by President Trump in 2017 but under the Biden administration, it appears that Operation Choke Point 2.0 has begun with the Federal Deposit Insurance Corporation (FDIC) sending letters to U.S. banks in 2022, urging them to “pause all crypto-related activity.”
Senator Cynthia Lummis (R-WY) told Fox Business that the regulatory abuse is real and that President-elect Trump will put an end to this type of regulatory abuse.
FTS! The lefty/Marxist/socialist/communist/murderers are trying to strangle any industry they dislike. One “industry” they seem to heavily dislike is the BTC industry. They are trying to strangle it in its infancy. THEY want you enslaved and helpless to force you to follow their whims. FTS!