A redacted report detailing the Federal Deposit Insurance Corporation’s internal communications about crypto-related banking activities has reignited calls for accountability in U.S. financial oversight.
Attorney John E. Deaton, a prominent crypto advocate and former Senate candidate, has urged Congress to investigate what he alleges is a coordinated effort by regulators to marginalize the digital asset sector through “Operation ChokePoint 2.0.”
The documents, first released through a court order to publicly traded crypto exchange Coinbase in November, outline FDIC directives advising banks to pause crypto-related services while under review.
Critics, including Deaton, argue the directives reveal an orchestrated attempt to restrict access to essential financial infrastructure, potentially stifling lawful businesses within the burgeoning sector.
“What we’ve learned thus far suggests coordinated, multi-agency action driven by political agendas rather than sound policy or law,” Deaton tweeted Saturday.
Deaton, who unsuccessfully
