Operation Chokepoint 2.0’s impact has expanded beyond the crypto sector, affecting major payment firms like Visa, Mastercard, and Stripe.
Former Coinbase CTO Balaji Srinivasan revealed that U.S. lawmakers, through a letter signed by Senators Brian Schatz and Sherrod Brown, pressured these companies to withdraw from Meta’s Libra project, warning of regulatory “scrutiny.”
Visa’s former SVP of Crypto & Fintech, Terry Angelos, confirmed that Visa faced similar pressure to curtail its crypto initiatives, highlighting growing concerns about “regulation by enforcement.” Pro-crypto lawyer John Deaton has called for an investigation into these tactics.
As President-elect Donald Trump prepares to take office, regulatory reforms are gaining momentum.
He has established the Department of Government Efficiency (D.O.G.E.), led by Elon Musk and Vivek Ramaswamy, to improve governance. Musk has expressed concerns about Operation Chokepoint 2.0, raising hopes for fairer oversight in the future.
Image Credit: Pixabay
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