Public documents tell the crypto debanking story very clearly
Operation Choke Point 2.0 was never a conspiracy. The orders were made right out in the open.
Here’s the question you have to ask yourself about the Biden White House: Did it understand that singling out the crypto industry for persecution was inappropriate?
That is, did people inside understand that putting the screws to companies that were operating within the bounds of the law was just really not what government is supposed to do?
Because, look, that’s not what an American government is supposed to do. Rule-of-law means equal treatment, that government does not pick winners or guarantee losers.
So, if you accept the proposition that they knew what they were doing was not appropriate, then the fact that the administration and its agencies never actually explicitly forbade any crypto market activity makes sense.
When power wants to act inappropriately, it prefers not to spell it out. Power likes a nudge.
“By utilizing the banking system to enforce …