Wednesday, July 23, 2025
  • Login
SB Crypto Guru News- latest crypto news, NFTs, DEFI, Web3, Metaverse
No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • WEB3
  • METAVERSE
  • REGULATIONS
  • SCAM ALERT
  • ANALYSIS
CRYPTO MARKETCAP
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • WEB3
  • METAVERSE
  • REGULATIONS
  • SCAM ALERT
  • ANALYSIS
No Result
View All Result
SB Crypto Guru News- latest crypto news, NFTs, DEFI, Web3, Metaverse
No Result
View All Result

Crypto Lawyer, XRP Advocate Pushes For ChokePoint 2.0 Investigation

by SB Crypto Guru News
January 5, 2025
in Crypto Updates
Reading Time: 3 mins read
0 0
A A
0


Operation ChokePoint, a government initiative to reduce certain businesses’ access to banking services, is getting renewed attention. The initiative, launched in 2013, aims to restrict traditional banking’s access to the crypto industry. Now, a few crypto personalities are taking action, including blockchain advocate, John Deaton.

In a Twitter/X post, Deaton – an XRP proponent and lawyer – discussed the industry’s struggle and fight against ChokePoint and suggested that he’s willing to volunteer and help lead an investigation into this initiative.

In the lengthy position, Deaton raised the challenges for the crypto industry and warned that it directly attacks the principles of free markets and competition.

Deaton Raises Alarm, Willing To Lead An Investigation

Initially launched by President Barack Obama’s administration in 2013, the initiative is back in the spotlight after several letters sourced from the Federal Deposit Insurance Corporation (FDIC) indicate that the agency requested to pause bank and cryptocurrency activities.

As a former prosecutor and Special Assistant United States Attorney I am very serious about volunteering to help lead a federal investigation into ChokePoint 2.0. I would accept the task without salary. The American people deserve the truth a hell of a lot more than I or anyone… https://t.co/LFdhpCixnr

— John E Deaton (@JohnEDeaton1) January 4, 2025

The letters’ message seems to validate a long-running belief that regulators are preventing traditional banking institutions from participating in the growing industry.

Many have taken interest, including crypto proponent James Deaton, by this attack perceived on the crypto industry. Through an extensive tweet post on X, Deaton revealed his frustration with his intent to fight this initiative, branded as “Chokepoint 2.0.”

He also shared that he’s willing to lead an investigation into the initiative and take on the role without salary.

Total crypto market cap currently at $2.35. Chart: TradingView

Fight Vs. ChokePoint 2.0 An ‘Honor and Privilege’, Says Deaton

In the lengthy petition, he shared that a potential investigation into this initiative challenges the country’s capitalism and free market principles. He argued that this fight goes beyond digital assets, blockchain, and banking charters. Instead, it’s a campaign to hold unelected officials accountable, who he thinks are using their power to limit access to the financial systems.

Deaton believes the American public deserves transparency and accountability. He also called the attention of incoming US President Donald Trump, his Vice President, JD Vance, and Elon Musk, sharing that this current fight is for institutional integrity.

Thanks to @iampaulgrewal and the rest of the team at Coinbase, the FDIC has now been compelled to further un-redact their “pause letters” to banks during 2022-23. We know know what the FDIC was asking banks not to do (thread)

— nic carter (@nic__carter) January 4, 2025

Crypto Lawyer’s Call Gains Support

Deaton’s social media post on January 5th is slowly gaining traction. The cryptocurrency industry has also welcomed his call for an inquiry. In addition to his mentions of Trump, Vance, and Musk, Deaton appealed to Congress and Paul Grewal of Coinbase to start an official inquiry into FDIC’s initiative.

I’ve summarized the new batch of pause letters here. When I add ‘suspected’ that’s me guessing what bank or product the redactions pertain to. Credit to @john_iller for making the USDF connection. pic.twitter.com/gVWaF4rVNf

— nic carter (@nic__carter) January 4, 2025

Coinbase made the FDIC’s redacted letters public. According to one social media post, the crypto exchange obtained these files through a court order. Industry expert Nic Carter acknowledged Coinbase’s decision to share these documents publicly and joined calls for an investigation.

Featured image from Pixabay, chart from TradingView





Source link

Tags: advocateBitcoin NewsChokepointCryptoCrypto NewsCrypto UpdatesInvestigationLatest News on CryptoLawyerPushesSB Crypto Guru NewsXRP
Previous Post

Dogecoin To Hit $1? Expert Calls It A Realistic Goal For 2025

Next Post

Anastasija Plotnikova on the future of global crypto regulation

Related Posts

Solana Surges Above 0, Token6900 Meme Coin Raises M in Presale, and Polymarket Returns to the US

Solana Surges Above $200, Token6900 Meme Coin Raises $1M in Presale, and Polymarket Returns to the US

by SB Crypto Guru News
July 23, 2025
0

Live Best Meme Coins Updates Today: Solana Surges Above...

Altcoin Season Picks Up — TOKEN6900 Nears M Raised Among Notable New Tokens

Altcoin Season Picks Up — TOKEN6900 Nears $1M Raised Among Notable New Tokens

by SB Crypto Guru News
July 23, 2025
0

Altcoin season has officially arrived, and investors are on the hunt to find the next breakout token that has the...

US Senators Unveil Draft Bill to Overhaul Crypto Regulation Framework

US Senators Unveil Draft Bill to Overhaul Crypto Regulation Framework

by SB Crypto Guru News
July 23, 2025
0

A sweeping Senate draft bill sets the stage for overhauling U.S. crypto regulation, proposing clear classifications, limited SEC oversight, and...

Kraken’s Co-Founder Jesse Powell Cleared of Hacking Charges After FBI Investigation

Kraken’s Co-Founder Jesse Powell Cleared of Hacking Charges After FBI Investigation

by SB Crypto Guru News
July 22, 2025
0

The FBI ended its investigation into Jesse Powell over alleged hacking of a nonprofit. Powell faces no criminal charges, and...

5K Bitcoin Incoming? Polymarket Crowd Thinks It’s Likely

$125K Bitcoin Incoming? Polymarket Crowd Thinks It’s Likely

by SB Crypto Guru News
July 22, 2025
0

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Traders on a decentralized platform are putting...

Load More
Next Post
Anastasija Plotnikova on the future of global crypto regulation

Anastasija Plotnikova on the future of global crypto regulation

Profit-Taking At K–0K Cools Bitcoin As Block P/L Count Ratio Drops Sharply – Details

Profit-Taking At $90K–$100K Cools Bitcoin As Block P/L Count Ratio Drops Sharply – Details

Facebook Twitter LinkedIn Tumblr RSS

CATEGORIES

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Updates
  • DeFi
  • Ethereum
  • Metaverse
  • Mining
  • NFT
  • Regulations
  • Scam Alert
  • Uncategorized
  • Web3

SITE MAP

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - SB Crypto Guru News.
SB Crypto Guru News is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • WEB3
  • METAVERSE
  • REGULATIONS
  • SCAM ALERT
  • ANALYSIS

Copyright © 2022 - SB Crypto Guru News.
SB Crypto Guru News is not responsible for the content of external sites.