U.S. Congressman criticizes Trump's cryptocurrency actions at the decentralized banking hearing

ChainCatcher News, senior member of the House Oversight and Investigations Subcommittee, Texas Congressman Al Green criticized President Trump for promoting a "deregulatory cryptocurrency-friendly agenda" while launching the Meme coin.

During the hearing of the House Financial Services Committee's Oversight and Investigations Subcommittee on February 6, Green immediately questioned the claims of the Republican leadership, which stated that the previous administration "put cryptocurrencies in the crosshairs of U.S. regulators." Green stated that some lawmakers and cryptocurrency executives used the colloquial term "Operation Choke Point 2.0," claiming that the Biden administration had orchestrated an attempt to eliminate the industry's banking access, which he called a "false plan that was never initiated."

Green pointed out, "Regulators asking banks to consider the risks associated with the cryptocurrency industry is not the same as de-banking." He also suggested that lawmakers should turn their attention to the Meme coin launched by Trump before taking office on January 17. Both Subcommittee Chairman Dan Meuser and Financial Services Committee Chairman French Hill did not comment on TRUMP coin in their opening statements.