Ripple's Chief Legal Officer Reveals the Covert War of U.S. Regulators Against the Cryptocurrency Industry

2024-12-02 11:06:17

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ChainCatcher news, according to Bitcoin.com, Ripple's Chief Legal Officer Stuart Alderoty emphasized that he believes U.S. regulators have meticulously planned to stifle the cryptocurrency industry. In recent years, the cryptocurrency industry has faced significant challenges, which the industry refers to as "Operation Chokepoint 2.0," a coordinated effort by U.S. regulators to restrict banking services related to cryptocurrency businesses.

Alderoty recently shared his views on Operation Chokepoint 2.0 on the social media platform X, mentioning a 2012 initiative where, reportedly, the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve, and the Office of the Comptroller of the Currency (OCC) pressured banks to stop providing services to certain industries.

Alderoty believes that cryptocurrency has now become the main focus of similar strategies, noting: "In 2012, regulators (FDIC, OCC, Federal Reserve) used banks as a weapon against unpopular industries (gun shops, payday lenders, etc.) under the initial 'Operation Chokepoint.' Fast forward to 2021: cryptocurrency is the new target."

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