XRP supporter and attorney John Deaton has expressed his intention to assist the Trump Administration in investigating Operation Choke Point 2.0.
Custodia Bank's Legal Battle
The attorney argues that Custodia Bank’s legal battle against the Federal Reserve is the “most significant case” for the crypto industry. Deaton emphasized the critical importance of this struggle in determining whether access to fundamental financial infrastructure can be arbitrarily denied.
Government's Approach to the Crypto Sector
Deaton highlighted that such government actions create a dangerous precedent, enabling regulatory bodies to silence industries they disfavor. This situation could stifle innovation, competition, and economic opportunities.
Coinbase's Perspectives
Echoing Deaton’s sentiments, Coinbase's Chief Legal Officer Paul Grewal claimed that the FDIC is attempting to sabotage various activities within the crypto industry. Grewal noted that Coinbase filed requests under the Freedom of Information Act regarding letters sent by the FDIC to banks about crypto services.
The voices of individuals like John Deaton and Paul Grewal may foster broader awareness against government interventions in the crypto sector.
