The Washington D.C. law firm Cooper & Kirk has just released a white paper exposing the federal bank regulators' covert financial war against the cryptocurrency industry.
The paper reveals that the FDIC, the Federal Reserve Board, and the OCC are using the same regulatory tactics they employed during "Operation Choke Point" to cut off payday lenders, gun and tobacco dealers, and other unpopular businesses from the modern financial system.
The banking agencies have issued informal guidance documents labeling cryptocurrency customers as posing a heightened risk to banks, resulting in businesses in the industry being stripped of access to the ACH network without explanation.
Recently, federal regulators even shut down a BANK (you know that 😎) that served the crypto industry, costing billions of dollars.
Cooper & Kirk, having successfully sued the FDIC, Federal Reserve, and OCC over the original Operation Choke Point, is well-equipped to recognize the signs of regulatory threats and pressure tactics deployed against crypto.
David H. Thompson, an attorney at Cooper & Kirk who was involved in the Firm's earlier litigation against Operation Choke Point and the lead author of the white paper, emphasizes the urgent need for Congress to hold the federal banking regulators accountable and bring this Operation Choke Point 2.0 to an immediate halt.
It's time to expose and stop this covert financial war against the crypto industry!
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