Attorney John Deaton is urging a federal probe into Operation ChokePoint 2.0, a coordinated effort to restrict cryptocurrency-related services. Deaton claims that the actions of the FDIC to limit Bitcoin and Ethereum transactions are stifling innovation and treating the crypto industry unfairly. The FDIC reportedly sent at least 25 letters to banks demanding they scale back their cryptocurrency services. Deaton argues that this is an attack on the free market system and undermines America's ability to remain a leader in innovation. The crypto industry supports Deaton's call for an investigation, and Coinbase has successfully gained unredacted documents from the FDIC. There are hopes that the new administration, including President-elect Donald Trump and "Crypto Czar" David Sacks, will bring about a more favorable regulatory environment. Critics argue that regulatory clarity and fair treatment of digital assets are necessary to ensure innovation is not hindered.



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