On May 28, 2025, US Vice President JD Vance stated at the 2025 Bitcoin Conference in Las Vegas that “Operation Chokepoint 2.0” is “dead”. He announced the end of federal regulatory actions targeting the crypto sector and the start of legislative support for this industry.
“Operation Chokepoint 2.0” is a term used by crypto advocates to describe the actions of banking regulators that are believed to limit the connection between the crypto industry and the US banking system. Vance emphasized that the Trump administration has removed Gary Gensler from the chairmanship of the US Securities and Exchange Commission (SEC) and promised to continue removing officials with similar enforcement strategies.
In the same speech, Vance called for a legislative approach to crypto policy, stating that the administration aims to secure the position of digital assets, especially Bitcoin, in the US financial system. He also supported the efforts in Congress to pass a comprehensive market structure bill for crypto and warned that failure to achieve regulatory clarity would risk pushing the $3 – trillion – dollar industry overseas. Additionally, Vance mentioned the Genius Act, saying that the legislation aims to expand the use of dollar – pegged stablecoins and requires transparency. He argued that stablecoins do not threaten the status of the US dollar but rather serve as a “force multiplier” to expand its global influence.
Related topic:
