Executives from Coinbase and Gemini have expressed strong support for recent changes initiated by the acting head of the Consumer Financial Protection Bureau (CFPB), Russell Vought. This move aims to limit the agency's regulatory reach, which has been framed as a response to ongoing tensions surrounding cryptocurrency oversight. The Chokepoint 2.0 hearings highlighted the political divide over these regulatory changes, with both parties finding common ground on certain issues. The CEOs' endorsement comes amid accusations from Republicans that the Biden administration is pressuring banks to sever ties with cryptocurrency firms, indicating a growing backlash against regulatory scrutiny in the crypto sector.