The founder of a popular cryptocurrency warned that it would take years to reverse the adverse effect of the so-called Operation Chokepoint 2.0, saying that it is a systematic, global campaign that aims to pin down the crypto sector.
Cardano founder Charles Hoskinson urged other leaders in the crypto industry to unite and push for legislation that will ban conducting such activities.
Operation Chokepoint 2.0: A Global Crackdown
Hoskinson described Operation Chokepoint 2.0 as a “systematic campaign” that seems to be targeted attacks on the cryptocurrency industry.
“So many people put their head in the sand for political reasons, saying it’s not as bad as the industry was making it out to be,” Hoskinson said in an X post.
He explained that contrary to what most people believe, its operation was not limited to the United States alone, adding that it also spilled over internationally.
He said that it is worse than what people anticipated, and it is a coordinated global campaign aimed at targeting cryptocurrencies.
The global fallout from Operation Chokepoint 2.0. So many people put their head in the sand for political reasons, saying it’s not as bad as the industry was making it out to be.
It is worse and global. So many businesses were harassed, fined, audited, and de-platformed. It has… https://t.co/kKu2qGp8Ae
— Charles Hoskinson (@IOHK_Charles) November 30, 2024
The crypto founder warned about the fallout brought by Operation Chokepoint 2.0, saying that the campaign hurt the economy and devastated businesses after the anti-crypto operation “harassed, fined, audited, and de-platformed” so many companies.
He added that it will take years to “undo the economic and emotional harm” done by the global campaign.
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Author: Christian Encila
