Committee Republicans allege in a 53-page report that Biden-era regulators engaged in 'Operation Chokepoint 2.0' to make crypto activity nearly impossible for financial institutions.
On December 2, Republicans on the House Financial Services Committee issued a 53-page report titled 'Operation Chokepoint 2.0,' accusing the Biden administration of attempting to severely restrict cryptocurrency activity in the U.S. The document criticizes regulators for creating uncertainty and employing measures that hinder financial institutions from engaging with digital asset firms. It alleges systemic regulatory overreach and a lack of clarity, positioning these actions as part of an effort to make crypto activity nearly impossible.