Outside Source
Representative Al Green, who also called for Donald Trump’s impeachment on Feb. 5, said Operation Choke Point 2.0 was a “fake program” that “never existed.”
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Texas Representative Al Green, ranking member of a House subcommittee on oversight and investigations, criticized US President Donald Trump for pushing his own “deregulatory pro-crypto agenda” while launching a controversial memecoin.
In a Feb. 6 hearing of the House Financial Services Committee’s Oversight and Investigations Subcommittee, Rep. Green, a Democrat, immediately challenged the narrative Republican leadership made in claiming the previous administration had “put crypto in the crosshairs” of US regulators. The Texas representative said the colloquial term Operation Choke Point 2.0 — used by some lawmakers and crypto executives claiming former US President Joe Biden’s administration had orchestrated attempts to debank the industry — was a “fake program, never initiated.”
Rep. Al Green addressing lawmakers on Feb. 6. Source: House Financial Services Committee
According to Rep. Green, the Federal Deposit Insurance Corporation (FDIC) and US financial regulators under the previous administration warned financial institutions about potential business ties to crypto firms rather than ordering them to halt services — a claim echoed by Better Markets banking policy director Shayna Olesiuk, who testified at the hearing.
“Regulators asking banks to consider the risks associated with the cryptocurrency industry does not amount to debanking,” said Rep. Green.
The Texas representative hinted that lawmakers should turn their attention to Trump’s memecoin, which he launched before taking office on Jan. 17. Neither subcommittee chair Dan Meuser nor Financial Services Committee chair French Hill commented on the TRUMP coin in their opening statements.
This article first appeared at Cointelegraph.com News
