House Republicans Accuse Biden Regulators of Pressuring Banks to Exit Crypto Industry

The U.S. House Committee on Financial Services has released a 53-page report alleging that Biden administration regulators are systematically pressuring banks to sever ties with cryptocurrency companies. This report, dubbed ‘Operation Choke Point 2.0,’ outlines coordinated efforts by federal banking agencies to isolate digital asset firms from traditional financial services during the development of regulatory frameworks for the crypto industry.