What is “Operation Choke Point 2.0”?

If FTX was a butterfly flapping its wings in the Amazon rainforest, “Operation Choke Point 2.0” is the torrential rain now pouring down over the US crypto industry.

How does crypto choke point 2 differ from the original?

In some key respects, Crypto Choke Point 2.0 differs from the original. It appears that the administration has learned from the efforts of its predecessors. In Choke Point 1.0, guidance was mainly informal and involved backdoor, off-the-record conversations.

Why was choke point controversial?

The operation began in 2013, and many companies related to firearms, drugs, loans, and other risky industries lost access to banking services in the USA. Choke Point was controversial mainly because it was never formally voted on by U.S. politicians and was somewhat of a rogue operation.

Is 'Operation Choke Point 'chemotherapy' for Ponzi cancer?

AUSTIN, Texas — "Operation Choke Point 2.0," the alleged coordinated efforts by the Biden administration to cut the cryptocurrency industry off from the U.S. banking sector, is the Securities and Exchange Commission's "chemotherapy" for a $14 billion "Ponzi cancer," said Oliver von Landsberg-Sadie, founder and CEO of crypto banking firm BCB Group.