Attorney John E. Deaton, a crypto advocate and former Senate candidate, has called on Congress to investigate what he alleges is a coordinated effort by regulators to marginalize the digital asset sector through "Operation ChokePoint 2.0." Deaton believes that documents released by the FDIC to Coinbase in November reveal an attempt to restrict access to financial infrastructure for crypto businesses. He argues that this is not just a fight for crypto but a fight against the erosion of institutional integrity. Deaton plans to lead an investigation into regulatory overreach. He highlights a previous case involving Custodia Bank, which sued the Federal Reserve, as an example of the growing influence of regulatory bodies over private enterprises. The FDIC defends its oversight practices, but Deaton believes that political motivations may be behind some regulatory actions.



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