Former Elizabeth Warren Challenger Offers To Lead Federal Probe Into Government's Attempt To Choke Crypto Banking Access

Pro-cryptocurrency attorney John Deaton expressed his willingness on Sunday to lead a federal investigation into the so-called  "Operation Choke Point 2.0″ without any salary, a task he deemed an “honor and privilege.”

What Happened: Deaton took to X to voice his concerns about ChokePoint 2.0, an alleged initiative undertaken by the U.S. government to limit the cryptocurrency industry’s access to banking services.

He emphasized the sensitivity of the issue, stating that it goes beyond digital assets and banking charters and one that affects the very foundations of free market capitalism.

“When lawful businesses are cut off from essential financial services based on political agendas rather than established law, it doesn't just stifle one industry – it sets a dangerous precedent that threatens America's ability to remain a global leader in economic progress and innovation,” said Deaton, a strong backer of Ripple Labs (CRYPTO: XRP) in its ongoing tussle with the SEC.

Deaton also mentioned the ongoing legal battle between the cryptocurrency-friendly Custodia Bank and the Federal Reserve over delays in obtaining a master account from the central bank, describing it as “the most important filed case” involving free market capitalism.

The attorney tagged the X accounts of President-elect Donald Trump and other key members of his upcoming administration, urging them to take the issue seriously.

See Also: Dogecoin To Hit One Dollar Milestone This Year, Says This Analyst

Why It Matters: Deaton has been an outspoken critic of the Joe Biden administration’s regulatory policies, accusing them of hindering the cryptocurrency industry.

He unsuccessfully bid for the Massachusetts Senate against Democratic rival Sen. Elizabeth Warren (D-Mass.), who is typically seen as an anti-cryptocurrency crusader.

Deaton's campaign received significant financial support from prominent cryptocurrency industry figures, including the Winklevoss twins, who donated $1 million in Bitcoin (CRYPTO: BTC) to the attorney. 

Photos courtesy: Gage Skidmore via Flickr and John Deaton Campaign

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