Will Operation Choke Point Kill the Crypto Industry?

[Suba]

Operation Choke Point is just a term used to refer to the USA government being against cryptocurrencies. Choke Point operations have commenced since Dec 6, 2022 closing Silvergate bank and Signature bank. The US government has also called for all companies to stay away from cryptocurrencies.

In March 2023 the SEC fined crypto exchange Kraken US$30 million, for providing unregistered staking services.

The SEC forced the BUSD issued by Paxos to be discontinued as it was deemed an unregistered security.

In early June 2022, it also demanded Coinbase and Binance US to delist 61 cryptos deemed as securities. Do you think that Operation Choke Point by the US government can slowly kill cryptocurrencies?

 

[Golden9]

It won't, most likely. Over time, you realize that even people in government are involved in cryptocurrency and such moves don't favour them, hence, they usually fight against it

 

[riberet19]

I know this operation, we are now supposed to be in choke point 2, but we really do not know what can happen with this operation or what objective it really has, we can only speculate, I think that rather than killing it, they want to dominate it.

 

[Smalto]

They

Operation Choke Point is just a term used to refer to the USA government being against cryptocurrencies. Choke Point operations have commenced since Dec 6, 2022 closing Silvergate bank and Signature bank. The US government has also called for all companies to stay away from cryptocurrencies.

In March 2023 the SEC fined crypto exchange Kraken US$30 million, for providing unregistered staking services.

The SEC forced the BUSD issued by Paxos to be discontinued as it was deemed an unregistered security.

In early June 2022, it also demanded Coinbase and Binance US to delist 61 cryptos deemed as securities. Do you think that Operation Choke Point by the US government can slowly kill cryptocurrencies?

They can do whatever they like, introduce any type of strategy they want, but they can never stop the popularity of cryptocurrency, crypto guys are way smarter and sophisticated for them to handle, so nothing can slow down the progress of cryptocurrency.

 

[Bisolami]

They

They can do whatever they like, introduce any type of strategy they want, but they can never stop the popularity of cryptocurrency, crypto guys are way smarter and sophisticated for them to handle, so nothing can slow down the progress of cryptocurrency.

Even SEC is really trying to make sure that they ruin anything that has to do with cryptocurrency but I don't thibk that is possible. Cryptocurrency has gone farther than that