- Crypto lawyer and former senatorial candidate John Deaton offered his services to the incoming Trump administration to unveil the reality behind Operation Chokepoint 2.0.
John Deaton Vows to Launch a Review on Operation Chokepoint 2.0
Bitcoin (BTC) and cryptocurrency advocate and lawyer John Deaton may have lost his bid to unseat Massachusetts Senator Elizabeth Warren, but it does not mean the battle is over. Recently, he volunteered to aid a federal probe into Chokepoint 2.0.
The prominent member of the crypto community said on X that he would “accept the task without salary.” For him, his experience as a former prosecutor and Special Assistant United States Attorney would be vital in uncovering the truth the “American people deserve.”
In addition, Deaton emphasized that he has been fighting the US Securities and Exchange Commission’s (SEC) overreach for four years on a pro bono basis or for free for the public’s benefit. The lawyer underscored that his mission to unravel the multi-agency coordination behind Operation Chokepoint 2.0 would bring him great honor and a privilege.
Furthermore, the crypto supporter strongly lambasted the architects of Operation Chokepoint 2.0, calling them a threat to lawful businesses thriving in a free market economy.
“What Donald Trump, JD Vance, Elon Musk, Vivek Ramaswamy, Howard Lutnick, and David Sacks must know is that 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,” said Deaton. “The outcome could determine whether America remains a nation governed by transparent laws or one ruled by backroom deals and selective enforcement.”
What is Operation Chokepoint 2.0?
President Joe Biden’s administration has constantly denied the existence of Operation Chokepoint 2.0. However, people who claimed knowledge of the matter alleged that regulators, such as the Federal Deposit Insurance Corporation (FDIC), masterminded the program to cripple the financial services of banks and other businesses with significant exposure to crypto and other disruptive technologies.
Industry watchdogs suspected FDIC Chair Martin Gruenberg to be one of the principals of the clandestine affair. The controversial figure has already announced his exit from the agency on January 19, a day before President-elect Donald Trump’s inauguration.
Various sources argued that the proponents of Operation Chokepoint 2.0 believe financial institutions delving into crypto assets carry a significant level of risk. Hence, regulators have made it their goal to “choke” the targets out of the traditional banking system by cutting off their lifeline to their funds and preventing them from further carrying out their transactions.
The program follows the original intent of the 2013 to 2017 Operation Chokepoint. The former initiative was a daring move by the US government that intended to decouple companies that allegedly had tendencies to engage in fraud and money laundering. Its targeted payday lenders, firearm and ammunition dealers, ATM operators, telemarketers, tobacco sellers, the porn industry, and pawnshops, among others.
