Cynthia Lummis confirmed that she is working to stop the assaults faced by the crypto space.
Cynthia Lummis is a US Senator from Wyoming. Lummis is known for her pro-crypto stance. Over the past several years, Lummis passed several ProCrypto statements at government-level events & always helped to push crypto-friendly rules and also helped to maintain a better level of confidence among the crypto investors & crypto stakeholders during a terribly hostile crypto regulatory environment.
On 24 Jan 2025, Cynthia Lummis took to X ( formerly Twitter) to confirm that she talked about Checkpoint 2.0 with US FDIC Chair Travis Hill to end the assault on cryptocurrencies.
Some crypto X users urged Lummis to disclose the names of people who were the main players behind the Chokepoint 2.0 operation.
Chokepoint 2.0
In 2013 the Bitcoin sector achieved a better level of success. In that phase, the majority of the crypto companies were running their crypto business in compliance with the traditional financial rules.
To stop the growth of the crypto sector & circulation of cryptocurrencies, the US government agencies collaboratively started Chokepoint operations against the crypto sector. When the crypto companies jumped against this operation legally, then, the regulatory bodies shifted to the chokepoint 2.0 operation.
Under this operation, banks were restricted from providing digital banking services to the crypto companies, and also, many crypto companies were debanked without any prior notice or clarification. This situation was very terrible between 2022 and 2023.
But now the situation has changed drastically. In Q4 2024, many entrepreneurs talked about this operation directly or indirectly to unearth the dark game that was played by some top government officials against this innovative space.
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