Anika Begay
Gemini co-founder Tyler Winklevoss has accused US Vice President and Democratic presidential candidate Kamala Harris of promoting a false reset of the Biden administration’s supposed “anti-crypto” policy and the US Democratic Party in general. This development follows several other events in the run-up to the US general election where the digital asset sector has become a major topic of discussion.
Operation Choke Point 2.0 Still Ongoing, Fed Will Go Crazy If Harris Wins: Winklevoss
In a post on X on Friday, Tyler Winklevoss claimed that the alleged “Operation Choke Point 2.0,” a perceived active move by the current U.S. government to de-bank the cryptocurrency industry and cripple the digital asset space, is still in effect.
The Gemini co-founder backed up his claims with an enforcement action by the U.S. Federal Reserve against crypto-friendly Customers Bank. He says that, contrary to popular belief, the current administration, which includes Vice President Kamala Harris, is not reversing its “anti-crypto” stance.
Today, the Fed confirmed that Operation Choke Point 2.0 is still in full swing, provided valuable insight into how it works, and verified that the Harris crypto “reset” is a scam. The Fed revealed all of this in a 13-page enforcement action issued this morning against… photo.twitter.com/zhLRRWAH0E
— Tyler Winklevoss (@tyler) August 9, 2024
The Fed has identified serious deficiencies in banks’ systems for managing customer risk, as well as violations of U.S. anti-money laundering laws, according to a court order released Friday. However, Winklevoss points out that these shortcomings and violations were not mentioned. Rather, Customers Bank is now required to provide 30 days’ notice to Apex Bank before engaging with any digital asset entity.
Tyler Winklevoss opposed the fine, arguing that it was a “choke point” because banks should be able to decide which companies they want to bank with, rather than having to seek approval from the Fed.
Gemini co-founder said:
The decision to bank a company should be decentralized across the banking industry and made by each bank at its own discretion. Now, this decision has been centralized by the Fed and will be made by the Fed at its sole discretion. The Choke Point has been created.
Interestingly, Winklevoss posits that this event is a warning, as he says the Fed is currently “playing nicely with Nerf guns.” He predicts that if Kamala Harris emerges victorious in November, Operation Choke Point 2.0 will go into full swing.
A Vote for Kamala Harris Is a Vote Against Crypto – Cardano CEO
Commenting on Tyler Winklevoss’s post, Cardano founder and CEO Charles Hoskinson said that voting for Kamala Harris as president is detrimental to the cryptocurrency industry. Similar to Winklevoss, he argues that the current Biden-Harris administration is not backing down from its “anti-crypto” policies.
Interestingly, these developments follow a recent meeting between White House officials and key figures in the cryptocurrency industry, including billionaire Mark Cuban, Ripple CEO Garlinghouse, and others, which aimed to ease the current tension between the two sides and work out future policies to support cryptocurrencies.
Featured image from ABC News, chart from Tradingview
