U.S. House Republicans Pursue 'Debanking' Issues in Cryptocurrency, Release Choke Point 2.0 Report

On December 2, Republican members of the U.S. House Financial Services Committee released a 53-page report titled 'Operation Choke Point 2.0: Debanking by the Biden Administration in the Cryptocurrency Sector.' The report compiles findings from investigations into the cryptocurrency policies of the past few years under the previous Biden administration. The report points out that 'the Biden administration attempted to make involvement in cryptocurrency-related activities nearly impossible.' It criticizes the regulatory framework for giving excessive discretion to regulators and not providing financial institutions with sufficient certainty. Republican members are calling for measures to prevent a third version of Choke Point from occurring.