Bitcoinist 2025-08-12 16:00:52

Crypto News: What’s Operation Chokepoint And Why Did Donald Trump Shut It Down?

‘Operation Chokepoint’ is a term that became common under the regulatory regime during the Joe Biden administration. This operation marked part of the government’s initiatives to stifle the crypto industry back then, something which Trump has corrected since entering office. What Operation Chokepoint Was About Details about Operation Chokepoint first came to light when Venture Capitalist Nic Carter revealed in 2023 that there was a new operation targeting the crypto space in the U.S. He noted that it was a well-coordinated effort to marginalize the industry and cut any ties it has to the banking system. As part of Operation Chokepoint, regulators urged banks to stop providing services to crypto firms. Crypto founders like Tyler Winklevoss , Roman Storm, and Jesse Powell also confirmed that they and their firms were marginalized. Meanwhile, the world’s richest man, Elon Musk, revealed that 30 tech founders were secretly debanked. Crypto banks such as Silvergate, Signature, and Silicon Valley Bank were also victims of Operation Chokepoint because they refused to debank crypto firms. Nic Carter noted how anti-crypto Senator Elizabeth Warren encouraged a bank run against Silvergate after FTX collapsed. Carter further stated that Silvergate was solvent till the end and that directors chose to liquidate voluntarily, not because of the bank run but because of Operation Chokepoint. Bank regulators had informed the bank that they couldn’t serve crypto clients anymore, which impacted their business operations. The Venture Capitalist also noted that the voluntary wind-down was not evidence that crypto is risky to debanking, but rather a sign of how regulators stifled crypto banks. He added that these regulators can “capriciously” kill off the firms they regulate if they want. Meanwhile, it is worth noting that Operation Chokepoint even extended to someone like Donald Trump. The president mentioned in a CNBC interview that JPMorgan and Bank of America rejected his deposits. As such, this made Trump well aware of the plight of the crypto industry, which is why he promised to end it if he were elected. Donald Trump Fulfills His Promise The U.S. president has fulfilled his promise to end Operation Chokepoint, signing an executive order that guarantees fair banking for all Americans. The order cited Operation Chokepoint as an example of how Bank regulators used supervisory scrutiny and other influence over regulated banks to encourage politicized or unlawful debanking activities. To curb this, Federal banking regulators have been directed to remove the use of reputation risk or equivalent concepts that could result in politicized or unlawful banking from their guidance documents or other materials used for regulation. These regulators are to make this move within 180 days of the order. The Federal Reserve had already announced earlier that it had ended reputational risk oversight.

La maggior parte ha letto le notizie

Ethereum Price Outlook: Institutional Buying...
2025-08-13
Taiko Preconfirmations: Blazing Fast Transact...
2025-08-13
Is Zora turning Ethereum L2 Base into a Solan...
2025-08-13
XRP Investment Strategist Unveils $50,000 Pla...
2025-08-13
Shiba Inu Shows Potential for Bullish Momentu...
2025-08-13
XYO is available for trading!
2025-08-13
Shiba Inu Sees 300% Increase in Big-Money Tra...
2025-08-13
Top LTC Whale Shares $50,000 Strategy To Prof...
2025-08-13

Leggi la dichiarazione di non responsabilità : Tutti i contenuti forniti nel nostro sito Web, i siti con collegamento ipertestuale, le applicazioni associate, i forum, i blog, gli account dei social media e altre piattaforme ("Sito") sono solo per le vostre informazioni generali, procurati da fonti di terze parti. Non rilasciamo alcuna garanzia di alcun tipo in relazione al nostro contenuto, incluso ma non limitato a accuratezza e aggiornamento. Nessuna parte del contenuto che forniamo costituisce consulenza finanziaria, consulenza legale o qualsiasi altra forma di consulenza intesa per la vostra specifica dipendenza per qualsiasi scopo. Qualsiasi uso o affidamento sui nostri contenuti è esclusivamente a proprio rischio e discrezione. Devi condurre la tua ricerca, rivedere, analizzare e verificare i nostri contenuti prima di fare affidamento su di essi. Il trading è un'attività altamente rischiosa che può portare a perdite importanti, pertanto si prega di consultare il proprio consulente finanziario prima di prendere qualsiasi decisione. Nessun contenuto sul nostro sito è pensato per essere una sollecitazione o un'offerta