Cryptographic companies have faced account closings and refusal of banking services for years under the label of disintegration. Much in the cryptography industry believe that the speaking represents an effort focused on policies to remove digital assets, called “chokepoint 2.0 operation”.
After President Donald Trump’s pro-Crypto team won the elections, many thought that the era of the speaking was over. Its campaign rhetoric and its first policy movements reported a more user -friendly environment for digital assets, which led some to expect that banks facilitate restrictions on cryptographic customers.
However, recent incidents suggest that practice remains rooted. Last week, Andreessen Horowitz’s partner, Alex Rampell, warned that the big banks were pressing Fintech and Crypto applications in “Operation ChokePoint 3.0”, making hiking costs to access account data or transferring funds to platforms like Coinbase and Robinhood.
Echoing these concerns, Alex Konanykhin, CEO of Unicoin, told Cointtelegraph that American banks continue to close the accounts of cryptographic companies without explanation, despite increasing political pressure to end the practice.
“We know it from the first hand, because Unicoin and its subsidiaries were disabled, without explanation, by several banks,” said Konanykhin. He listed five banks that have reduced links with Unicoin or his subsidiaries in recent years, notably Citibank, Chase, Wells Fargo, the National Bank of the City of Florida and TD Bank.
Cointelegraph holded out all these banks for comments but had not received an answer by publication.
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“Large -scale national operation”
Konanykhin said that a man had been uninformed by four banks this year only, which “suggests that ChokePoint is a large -scale national operation”. Unicoin is a public declaration company with six years of finance verified and more than 4,000 shareholders.
Konanykhin added that the debannage campaign has created “very disruptive and harmful” conditions for cryptographic companies in the United States, by depriving them of access to basic financial services and “eliminating the American cryptography industry”.
Bloomberg said on Thursday that President Trump would sign an executive decree ordering the regulators of the Federal Bank to identify and penalize the financial institutions that have engaged in the long -term.
The order would force regulators to examine complaint data, while banks supervised by the Small Business Administration must work to restore customers who have been illegally refused services.
Konanykhin expressed the hope that President Donald Trump’s draft decree to limit the speaking could bring relief. “The president knows the pain of the first-hand bank and seems determined to arrest this form of economic war against American companies,” he said.
He said that the end of the gambling could help us repress the crypto to recover world leadership. “End of the war against crypto will stimulate American cryptography industry. It can become as internationally impactful as Hollywood in entertainment or Silicon Valley,” he noted.
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Crypto reform is based on the final wording of the rules
Meanwhile, Elizabeth Blickley, a partner in tax controversy and Fox Rothschild disputes, said Trump had ordered agencies and the congress to examine how the crypto can be integrated into general finance, a significant change will depend on the final wording of regulations and laws.
She highlighted the recently signed engineering law, which gives the examination committee for the stable certification of the 180 -day federal reserve to design a regulatory framework.
Blickley warned that most bills in the congress never leave the committee and that any possible legislation will probably face disputes on both sides of the regulatory debate. “A payment can comply with the place at the request of the president or a law adopted, while having little application or disproportionate impacts based solely on the choice of words,” she said.
For the moment, said Blickley, the banks are likely to continue their position opposed to the risk towards the crypto until the new rules clearly reduce the risks perceived. “It is a question of ensuring that the entities opposed to the risk and people feel like a crypto is less a risk,” she concluded.
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