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Chokepoint 2.0: An Investigation Promises the Truth About Crypto’s Biggest Conspiracy
Did bureaucrats in the US plot to cut the crypto industry out of the banking system? An investigation begins.
The Federal Reserve declined to comment, but pointed to statements made by its chairman Jerome Powell at a January press conference: “Banks are perfectly able to serve crypto customers, as long as they understand and can manage the risks,” he said at the time. At the hearing held by the House Committee on Financial Services on February 6, the discussion returned repeatedly to 700 pages of documents released by the FDIC, partly in response to a request filed under the Freedom of Information Act by crypto exchange Coinbase. At a separate hearing held by the same congressional committee on February 12, proponents of the Operation Chokepoint 2.0 theory received the closest thing yet to confirmation of discrimination faced by crypto businesses, claims Caitlin Long, CEO at Custodia, a crypto-focused bank in an ongoing licensing dispute with the Federal Reserve.
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