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John Deaton Proposes Leading Investigation Into Alleged Operation Chokepoint 2.0
Former U.S. prosecutor John Deaton has put forward a proposal to lead an investigation into alleged Operation Chokepoint 2.0, a purported effort aimed at severing the crypto industry’s connection with traditional banking systems. Deaton made his offer in a January 4 post addressed to President Donald Trump, Vice President JD Vance, and other key figures within the incoming administration. Notably, he volunteered for the role without seeking any compensation.
Deaton emphasized concerns regarding regulatory overreach, warning that unchallenged actions could have far-reaching consequences beyond the crypto industry itself. He underscored the importance of maintaining institutional integrity while addressing these issues. “This isn’t just a fight for crypto, it’s a fight against the erosion of institutional integrity and the unchecked power of unelected bureaucrats,” Deaton declared.
Operation Chokepoint 2.0 is alleged to be a federal initiative that seeks to restrict or deny services to cryptocurrency-related businesses. In response, Deaton emphasized the necessity of transparency in these matters. He argued that exposing the truth behind such actions is vital for the well-being of the crypto industry and the broader financial sector.
The proposal comes amid growing scrutiny over potential regulatory actions targeting the industry. This follows a court ruling granting Coinbase access to unredacted FDIC documents, which allegedly reveal coordinated efforts to obstruct basic Bitcoin transactions and other cryptocurrency services.
The alleged architect behind Operation Chokepoint 2.0, Martin Gruenberg, resigned as FDIC Chair in November amid growing criticism over his potential involvement in these regulatory actions. Meanwhile, crypto companies like Binance have struggled to find banking partners following the collapse of Silvergate Bank and Signature Bank in March 2023.
Following a recent loss in the Massachusetts Senate race to Senator Elizabeth Warren, Deaton remains active in addressing the challenges faced by the cryptocurrency industry. By offering to lead this investigation without compensation, he has placed himself at the forefront of discussions surrounding federal actions and their impact on cryptocurrencies.
Source: coinchapter.com
