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‘Crypto industry in America will be dead,’ Tyler Winklevoss warns

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Tyler Winklevoss raises alarm over ongoing Operation Choke Point 2.0 as Fed sues crypto friendly Customers Bank for 'dificiency' in AML.

Tyler Winklevoss sees the move as an extension of ‘Operation Choke Point 2.0’ by the Biden-Harris administration.

For the unfamiliar, Operation Choke Point 2.0 refers to perceived actions by U.S. regulators to restrict crypto firms from accessing banking services.issued on the 8th of August, the Federal Reserve instructed Customers Bank to give it a 30-day notice before onboarding any crypto firm.In the order, the Federal Reserve alleged “significant deficiencies” in Customer Bank’s anti-money laundering compliance, especially in its digital asset strategy.

A recent meeting between crypto executives and White House advisors also revealed a lack of commitment to policy change. This could fuel the fears. Earlier in the week, Trump and Harris were tied on winning odds. At the time of writing, Harris led with 49%, while the odds of a Trump win were 48%.If anything, the data showed that Harris’s potential win couldn’t be wished away.

 

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