The post Crypto Lawyer, XRP Advocate Pushes For ChokePoint 2.0 Investigation appeared on BitcoinEthereumNews.com.

Operation ChokePoint, a government initiative to reduce certain businesses’ access to banking services, is getting renewed attention. The initiative, launched in 2013, aims to restrict traditional banking’s access to the crypto industry. Now, a few crypto personalities are taking action, including blockchain advocate, John Deaton. In a Twitter/X post, Deaton – an XRP proponent and lawyer – discussed the industry’s struggle and fight against ChokePoint and suggested that he’s willing to volunteer and help lead an investigation into this initiative. In the lengthy position, Deaton raised the challenges for the crypto industry and warned that it directly attacks the principles of free markets and competition. Deaton Raises Alarm, Willing To Lead An Investigation Initially launched by President Barack Obama’s administration in 2013, the initiative is back in the spotlight after several letters sourced from the Federal Deposit Insurance Corporation (FDIC) indicate that the agency requested to pause bank and cryptocurrency activities. As a former prosecutor and Special Assistant United States Attorney I am very serious about volunteering to help lead a federal investigation into ChokePoint 2.0. I would accept the task without salary. The American people deserve the truth a hell of a lot more than I or anyone… https://t.co/LFdhpCixnr — John E Deaton (@JohnEDeaton1) January 4, 2025 The letters’ message seems to validate a long-running belief that regulators are preventing traditional banking institutions from participating in the growing industry. Many have taken interest, including crypto proponent James Deaton, by this attack perceived on the crypto industry. Through an extensive tweet post on X, Deaton revealed his frustration with his intent to fight this initiative, branded as “Chokepoint 2.0.” He also shared that he’s willing to lead an investigation into the initiative and take on the role without salary. Total crypto market cap currently at $2.35. Chart: TradingView Fight Vs.…

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Filed under: News - @ January 5, 2025 2:11 pm