Senator Lummis Pushes Back on JPMorgan’s Crypto Account Closures, Spark New Banking Debate

U.S. Senator Cynthia Lummis has taken aim at JPMorgan Chase for its recent actions in closing accounts linked to crypto advocate Jack Mallers. This move raises concerns about banking access for digital asset users and reignites the debate on financial inclusion for crypto firms. Senator Lummis’s criticism comes amidst increased scrutiny of ‘Operation Chokepoint 2.0,’ a term used to describe efforts by banks to restrict access to blockchain companies. She argues that these practices damage public trust and could push crypto activity outside of established financial channels.