Regulations – What is Operation Chokepoint 2.0?

What exactly is Operation Chokepoint 2.0?

In today’s email titled “(Urgent) Bitwage Banking Transition – Service Changes Delivered,” BitWage said:

Dear Bitwag Community,

The cryptocurrency sector is facing challenges due to increasing regulatory pressure on the U.S. banking industry, which many are calling “Operation Chokepoint 2.0.” This pressure has come in the form of the SEC Wells notice, private conversations between regulators and banks, and limiting direct access from cryptocurrency-friendly banks to the Federal Reserve. As part of our commitment to providing you with the highest quality service, we have worked diligently to maintain stable banking relationships despite industry crackdowns.