The crypto industry claims that the so -called “Operation Choke Point 2.0” ended with the end of the Biden administration. In their statements on the X platform, the sector leaders stated that many institutions and individuals have been deprived of banking services due to discrimination.
Ending of Operation Choke Point 2.0
Verification capital Nic Carter, “OCP2.0 ended,” he said that the operation ended with the Biden administration. Carter added that Operation Choke Point 2.0 has not ended until the new permanent presidents are appointed and the congress legislation was established.
Temporary FDIC President Travis Hill said he did not see concrete evidence that there was a negative discrimination against the crypto. Hill in a speech,
“Within FDIC, there is no place for any institution that refuses to serve customers in accordance with the law.” -Travis Hill.
Political pressures and the future
Hill is trying to make a political gain by making positive statements to industries such as the crypto industry, which supports the Trump administration. It is seen as the most possible candidate for the permanent FDIC Presidency.
Coinbase’s Chief Legal Officer Paul Grewal said that Hill did not see concrete evidence against the crypto industry from Hill’s FDIC employees or Biden administration. Grewal thinks that the evidence of OC Point 2.0 will emerge if the search for evidence continues.
“Everything will emerge, they cannot hide this ongoing situation forever, G said Grewal. FDIC refrained from commenting on the subject.
The crypto industry expects to improve access to banking services with the end of the Operation Choke Point 2.0. However, the approach of regulatory institutions to the sector and possible risks still continue to be a matter of discussion.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
