.BrianBrooksUS, former acting head of the USOCC, says U.S. banking regulators are using what he calls 'Operation Choke Point 2.0' to coordinate and boot crypto companies from the banking system. _franvela reports
When he ran the OCC"I had a weekly call with the FDIC chairman and with the vice chairman of the [Federal Reserve]," Brooks said Wednesday."We talked every week for an hour and talked about what our priorities were for the coming week how we can support each other how our actions would affect the [banking] system."
Brooks reiterated comments made during the Milken Conference in Washington, D.C., earlier this month that the Biden administration is trying to close down crypto in what he calls, the"biggest story for the next six months." The original Operation Choke Point was the Obama-era initiative investigating banks and the business they did with, among others, firms believed to be at a high risk for fraud and money laundering.
“My belief is that [regulators are] trying to send a signal that will eventually choke this [crypto] off,” Brooks told CDTV. Brooks said he is"100% confident regulators were working together" in shutting down the three banks, despite the differing circumstances. The New York Department of Financial Services, for instance, said Tuesday Signature Bank was not closed because of crypto, but because of a"
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