Ripple's Chief Legal Officer Reveals the Secret War Waged by U.S. Regulators Against the Cryptocurrency Industry
Powered by ChatGPTRipple's Chief Legal Officer Stuart Alderoty emphasized that he believes U.S. regulators have carefully orchestrated efforts to stifle the cryptocurrency industry. In recent years, the cryptocurrency sector has faced significant challenges, which the industry refers to as "Operation Chokepoint 2.0," a coordinated action by U.S. regulators aimed at limiting banking services for cryptocurrency-related businesses.
Alderoty recently shared his views on Operation Chokepoint 2.0 on the social media platform X, mentioning an initiative from 2012, where it was reported that institutions such as 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 primary focus of similar strategies, pointing out: "In 2012, regulators (FDIC, OCC, Federal Reserve) used banks as a weapon against unpopular industries (gun shops, payday loan providers, etc.) under the initial 'Operation Chokepoint.' Fast forward to 2021: cryptocurrency is the new target." (Bitcoin.com)