Senator Cynthia Lummis leads efforts to dismantle FDIC’s “Operation Chokepoint 2.0,” targeting banking restrictions on digital asset firms.
FDIC Regulatory Overreach Under Fire
US lawmakers are challenging “Operation Chokepoint 2.0,” an alleged crackdown limiting banking access for cryptocurrency businesses.
Documents Reveal Banking Restrictions
A Freedom of Information Act (FOIA) request uncovered Federal Deposit Insurance Corporation (FDIC) letters advising banks to limit services to crypto firms between 2022 and 2023.
Senator Lummis Demands Fair Treatment
Senator Cynthia Lummis praised the FDIC’s transparency and vowed to end regulatory pressure that forces crypto firms into offshore banking.
Lawmakers Call for Financial Innovation
Critics argue that restrictive policies stifle US crypto innovation and risk pushing digital asset businesses toward less-regulated jurisdictions.
Future Crypto Banking Policies at Stake
With rising scrutiny on regulators, legislative efforts could shape policies ensuring fair banking access for the crypto industry.
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