United States Congressperson Byron Donalds criticized the country’s regulatory agencies on April 12 at NFT.NYC 2023 conference in New York. According to Donalds, agencies such as the Securities and Exchange Commission, the Commodity Futures Trading Commission and others are being used to activate “Operation Choke Point 2.0” by limiting crypto business access to banking services.
Operation Choke Point 2.0 describes the U.S. government’s alleged coordinated effort to discourage banks from working with crypto firms under the guise of ensuring safety and stability. Crypto industry commentators believe government attempts to restrict access to the crypto sector have ramped up in 2023.