House Republicans revive criticisms of Biden’s ‘coordinated attack’ on crypto, debanking concerns
House Republicans released a report criticizing the Biden administration's alleged "coordinated attack" on digital assets and debanking.Summary
House Republicans on the House Financial Services Committee released a 53-page report titled "Operation Choke Point 2.0: Biden's Debanking of Digital Assets," stemming from a multi-year probe into prior crypto policies. They assert the Biden Administration tried to make digital asset activities nearly impossible and aim to prevent future industry shunning from the financial system, referencing concerns like Strike CEO Jack Mallers' personal accounts being closed by JPMorgan Chase. The report focused on past regulator actions, including former SEC Chair Gary Gensler's enforcement-first approach. Republicans urged regulators to prioritize rulemaking and pushed for congressional legislation like the Digital Asset Market Clarity Act, which has passed the House but faces Senate hurdles. This report contrasts with a recent Democratic report alleging significant crypto profits for the Trump family.
(Source：The Block)