Tyler Winklevoss, the co-founder of Gemini, has accused US Vice President and Democratic Presidential candidate Kamala Harris of advocating for a fabricated reset of the alleged “anti-crypto” policy of the Biden administration and the US Democratic Party.
Tyler Winklevoss claimed in a Friday post on X that the alleged “Operation Choke Point 2.0,” which is a perceived active effort by the current US government to de-bank the crypto industry and impair the digital asset space, is still operational.
An enforcement action by the US Federal Reserve against the crypto-friendly Customers Bank has substantiated the claims of the Gemini co-founder. He asserts that the current administration, which includes Vice President Kamala Harris, is not reversing its “anti-crypto” posture, despite the prevailing opinion.
On Friday, the Federal Reserve identified significant deficiencies in the risk management systems of customers’ banks, as well as violations of US anti-money laundering laws, in accordance with a court order. Winklevoss, however, emphasizes that these deficiencies and violations were absent. Instead, the Customers Bank is now required to notify the Apex Bank within 30 days prior to engaging with any digital asset entity.
Tyler Winklevoss has vehemently opposed this sanction, contending that it is akin to “Choke Point” in that banks should be permitted to determine which companies to bank with without the need to obtain approval from the Federal Reserve.
According to the co-founder of Gemini, “Each financial institution should have the autonomy to determine whether or not to provide financial services to a particular organization. The Fed has now centralized this decision and will make it at its sole discretion. The Choke Point has been defined.”
It is fascinating that Winklevoss suggests that this occurrence serves as a warning, as he asserts that the Federal Reserve is currently “being amicable with Nerf weapons.” In the event that Kamala Harris wins the November election, he anticipates that Operation Choke Point 2.0 will commence in full force.
Charles Hoskinson, the founder and CEO of Cardano, has stated in response to Tyler Winklevoss’ post that advocating for Kamala Harris as President would be detrimental to the crypto industry. Similarly to Winklevoss, he asserts that the current Biden-Harris administration is not abandoning its “anti-crypto” policies.
It is intriguing that these developments have occurred in the wake of a recent meeting between White House officials and prominent crypto figures, such as Billionaire Mark Cuban and Ripple CEO Garlinghouse, among others. The purpose of the meeting was to assuage the current tension between the two parties and to establish future supportive crypto policies.
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