The Reality Behind the Crypto Banking Crackdown: ‘Operation Choke Point 2.0’ Is Here
The report follows a wave of bank shutdowns that some have alleged were triggered not just by financial stability concerns, but by the broader push to strangle cryptocurrency businesses – despite the lack of any authorizing legislation. Former U.S. Rep. Barney Frank has explicitly claimed the shutdown of Signature Bank was intended “to send a message to get people away from [banking] crypto.” Frank is a member of Signature’s board, so he is motivated to claim crypto, rather than mismanagement, was to blame for the bank’s failure.
