Operation Choke Point: A Look Back and Its Impact on Crypto 🚫💰
Launched in 2013 during the Obama administration, Operation Choke Point pressured banks to freeze accounts of businesses that, while legal, were disfavored by the government. This policy was later scrapped under Trump.

Resurgence Under Biden: Operation Choke Point 2.0 🔄
Re-emerging in 2021, this policy has since shifted its focus to the cryptocurrency market. Following the FTX collapse in 2023, banks faced liquidity crises and received advisories from the FDIC to halt crypto operations.

Government Statements and Risks to Crypto 📉
The White House asserted the need to mitigate risks associated with cryptocurrencies, citing potential threats to the financial system. Statements from various regulatory agencies emphasized the risks posed by inadequate regulation and volatile liquidity.

Current State of the Crypto Market in 2024 🚀
Despite its challenges, the crypto market, particularly Bitcoin and spot ETFs, show significant growth. However, a recent WSJ article highlighted that 75% of crypto hedge funds faced limitations in accessing banking services.

Looking Ahead: Change on the Horizon? 🔜
With Trump's presidential victory, there’s hope that he may revoke this policy in his second term, potentially unlocking more opportunities for the crypto industry in 2025!

More info🔍
https://t.co/K0SPEp92yF

#CryptoKorea #Investment #Essential #OperationChokePoint #Cryptocurrency #Bitcoin #Banking #HedgeFunds #FDIC