The U.S. House Financial Services Committee will hold a hearing on “Operation Choke Point 2.0,” investigating claims that regulators are stifling the crypto industry.
The U.S. House Committee on Financial Services will hold a meeting on February 6 to look into “Operation Choke Point 2.0.” This is a claim that the Biden Administration is trying to stifle the crypto industry with strict regulations.
Important witnesses are Paul Grewal, Chief Legal Officer of Coinbase; Fred Thiel, CEO of MARA; Austin Campbell, an adjunct professor at NYU; and Shayna Olesiuk, head of banking policy at Better Markets.
Grewal says that internal papers show the Federal Deposit Insurance Corporation (FDIC) tried to weaken crypto-related activities. Coinbase has submitted requests under the Freedom of Information Act to get more information about this.
Senator Cynthia Lummis (R-WY) has expressed worries about reports from sources who say the FDIC got rid of digital asset documents before the Senate could examine them. Some officials were said to have been threatened with lawsuits to prevent them from speaking out.
