This week, Congress, the problems experienced by enterprises that cannot benefit from financial services and their reflections on the crypto sector were discussed. Allegedly, the policies implemented under the name of “Operation Choke Point 2.0, make it difficult for crypto companies to access banking services.
Senate and House of Representatives Sessions
The Senate Banking Committee on Wednesday at 10:00 in the morning, Brookings Institute Researcher Aaron Klein, Anchorage Digital CEO Nathan McCauley, Davis Wright Tremainin partner Stephen Gannon and Old Glory Bank CEO was the first seated. The session examined the Biden administration’s financial service limitations based on political reasons.
Discussions on the Debanking Process
In addition, the Financial Services Sub -Committee of the House of Representatives organized a session that deals with the allegations that crypto companies have been restricted by banking access. Coinbase’s Chief Legal Counsel Paul Grewal, Professor of NYU and WSPN CEO Austin Campbell, Marathon Digital Holdings CEO Fred Thiel and Better Markets Banking Policy Director Shayna Osiuk evaluated the dimensions of the implemented policy.
Two separate sessions reveal that practices for the crypto sector are evaluated within the framework of political strategies. Some circles, while examining this process in a wider financial problem, some of them suggested that the crypto industry is a singular targeted area.
Authorized names shared different opinions on the subject.
Logan Payne: Applications for digital asset firms reveal a different debanking method within the framework of risk perception.
Kristin Smith: Media interest and congress sessions may be useful to prevent repeating similar applications.
The spokesman of the Senate Banking Committee President, stated that all legal enterprises should be treated equally in the session, emphasizing the accountability of regulators and financial institutions.
The article reveals the diversity of political strategies within the framework of the financial restrictions faced by the crypto sector. The relevant opinions reflected the controversial dimensions of the practices faced by the sector and other affected groups.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
