US House Republicans Officially Confirm "Operation Choke Point 2.0" Targets Bitcoin and Crypto Companies

Jinse Finance reported that US House Republicans have officially confirmed that "Operation Choke Point 2.0" is targeting Bitcoin and cryptocurrency businesses. Although several investigation results were previously known—for example, the Federal Reserve (Fed), Federal Deposit Insurance Corporation (FDIC), and Office of the Comptroller of the Currency (OCC) exerted pressure on banks to stay away from the crypto sector through informal guidance, and the US Securities and Exchange Commission (SEC) adopted a "regulation by enforcement" strategy—this report has now formally entered these findings into the Congressional record. The report points out that at least 30 institutions have been effectively "debanked" through informal regulatory guidance and supervisory pressure. The committee claims that these companies were forcibly expelled from the US banking system without any formal enforcement action. According to the report, the government imposed restrictions on the cryptocurrency industry through coercion, biased enforcement actions, and private pressure, all while consistently refusing to provide clear regulatory rules. The document shows that the Fed, FDIC, and OCC used a series of tactics to influence bank behavior, including sending "non-objection letters," "pause letters," and other forms of informal guidance, with the aim of making banks hesitant to engage with cryptocurrency businesses. Meanwhile, the SEC is accused of adopting a "regulation by enforcement" policy, failing to establish a clear regulatory framework, and instead restricting digital asset-related activities through selective enforcement.