📰💻 Operation Chokepoint 2.0: US Battles Crypto Market

The first half of 2023 witnessed significant banking sector turmoil, not only in the US but also in Europe. Notably, the collapse of crypto-friendly banks like Silvergate, Silicon Valley Bank, Signature Bank, and First Republic Bank raised eyebrows.

These banks had facilitated crypto-related services, collaborating with exchanges and supporting digital asset transactions. The demise of these banks within two months has led to speculation about Operation Chokepoint 2.0—a renewed effort to disconnect crypto businesses from the traditional banking system.

The original Operation Chokepoint, initiated in 2013, involved regulatory pressure on banks to close accounts of businesses perceived negatively by the authorities. While the extent and impact of Chokepoint 2.0 remain unclear, the crypto community is closely monitoring its developments.

#bitcoin #crypto #operationcheckpoint