Co-founder of Gemini, Tyler Winklevoss, has accused US Vice President and Democratic Presidential candidate Kamala Harris of touting a fake reset of the perceived “anti-crypto” policy of the Biden administration and the US Democratic party in general. This development follows several other events in the build-up to the US general elections in which the digital asset industry has become a major talking point.
Operation Choke Point 2.0 Still On, Fed To Go Full Berserk If Harris Wins: Winklevoss
In an X post on Friday, Tyler Winklevoss asserted that the suspected “Operation Choke Point 2.0”, a perceived active move by the current US government to de-bank the crypto industry and cripple the digital asset space, is still operational.
The Gemini co-founder has backed his claims with an enforcement action by the US Federal Reserve against the crypto-friendly Customers Bank. He states that contrary to popular belief, the current administration which includes Vice-President Kamala Harris is not reversing its “anti-crypto” stance.
Today, the Fed confirmed that Operation Choke Point 2.0 remains in full swing, provided valuable insight into how it works, and verified that the Harris crypto "reset" is a scam. The Fed revealed all of this in a 13-page enforcement action it issued this morning against… pic.twitter.com/zhLRRWAH0E
— Tyler Winklevoss (@tyler) August 9, 2024
According to a court order published on Friday, the Fed identified serious deficiencies in Customers bank risk management systems as well as violations of US anti-money laundering laws. However, Winklevoss highlights that these deficiencies and violations were not mentioned. Rather, the Customers Bank is now mandated to provide a 30-day notice to the Apex Bank before engaging with any digital asset entity.
Tyler Winklevoss has kicked against this sanction claiming it’s a form of “Choke Point” as banks should retain autonomy in deciding which companies to bank with rather than seek approval from the Fed.
The Gemini Co-founder said:
The decision whether to bank a company should be decentralized across the entire banking industry and made by each bank at its own discretion. Now, this decision has been centralized by the Fed and will be made by the Fed at its sole discretion. The Choke Point has been created.
Interestingly, Winklevoss postulates that this event is a warning as he claims the Fed is currently “playing nice with Nerf guns”. He predicts that if Kamala Harris emerges victorious in November, Operation Choke Point 2.0 will go into full swing.
A Vote For Kamala Harris Is A Vote Against Crypto – Cardano CEO
Commenting on Tyler Winklevoss’ post, Cardano founder and CEO Charles Hoskinson has stated that voting in favor of Kamala Harris as President is at the detriment of the crypto industry. Similar to Winklevoss, he claims the current Biden-Harris administration is not reneging on its “anti-crypto” policies.
Interestingly, these developments come after a recent meeting between White House Officials and key crypto figures including Billionaire Mark Cuban, Ripple CEO Garlinghouse, and others which aimed to dowse the current tension between both parties and work forward future supportive crypto policies.