The Blockchain Association announced today that it received a letter from the House Oversight Committee asking for information on Operation Choke Point 2.0.

The Senate Banking Committee will also conduct its own hearing in early February, further intensifying the scrutiny of federal regulators.

The Fight Against Operation Choke Point 2.0

For many leading figures in the crypto community, Operation Choke Point 2.0 was a key example of government overreach in the space.

The campaign involved federal regulators pressuring banks not to do business with crypto businesses, and documents proving its existence continue to surface. However, several regulators and financial leaders have called this a hoax.

Today, however, the federal government is taking proactive measures to stop Operation Choke Point 2.0 before it reaches its main goals.

To that end, the House Oversight Committee sent a letter to the Blockchain Association and other influential crypto companies, asking them to provide evidence of foul play:

“Today we, along with some of the most important crypto companies and investors, received a letter from the House Oversight Committee asking for information on the recent debanking of lawful companies and individuals. We’re grateful this issue is a week one priority. Getting to the bottom of this is critical for US innovation,” it claimed.

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Author: Landon Manning