
Recent discussions have highlighted the ongoing issue of 'debanking' faced by cryptocurrency firms. Reports indicate that banks are closing accounts for these firms, prompting questions about the future of their financial operations. The phenomenon, termed 'Operation Chokepoint 2.0', is characterized by regulatory efforts to limit the ability of cryptocurrency companies to access traditional banking services. Critics argue that this initiative extends into regulatory bodies such as the SEC, where staff have allegedly obstructed investment in digital assets by registered investment companies. The narrative suggests that legitimate concerns regarding banking discrimination are being co-opted by cryptocurrency advocates to resist regulatory measures, potentially undermining meaningful progress on the issue. This situation has garnered attention from various stakeholders, including industry advocates and regulatory critics, as they navigate the complexities of compliance and access to financial services.
Hear hear @molly0xFFF 'The Crypto Industry's Debanking Smokescreen': https://t.co/vOYfzhEvE0 As one of the 'real victims', regularly de-banked for having a fully legal but 'controversial' business, this why I'm focused on building a 'systemic solution': https://t.co/gw0Bs6lkqx https://t.co/jN2GxHV0mg
How crypto companies like Coinbase co-opted legitimate concerns about "debanking" to fight regulation, threatening to derail meaningful progress on the issue (@molly0xfff / Citation Needed) https://t.co/eeU1W4WexW https://t.co/EWbj27hAtW https://t.co/ZOzeer1FAj
Operation Chokepoint 2.0 was a coordinated effort by banking regulators to cut off #Bitcoin from the financial system. They lied, got caught, and are trying to rewrite history. https://t.co/zNBBFgIT6u