Crypto Lawyer John Deaton Offers to Lead Federal Investigation Into Operation Chokepoint 2.0
Key Highlights:
- John Deaton, a prominent pro-crypto lawyer, demands a federal investigation into Operation Chokepoint 2.0.
- Deaton volunteers to lead the inquiry without compensation to expose regulatory overreach.
- Donald Trump has pledged to end Operation Chokepoint 2.0, promising to curb regulatory abuse if re-elected.
Deaton Pushes for Federal Probe Into Regulatory Crackdown
Renowned crypto advocate and Massachusetts Republican Senate primary winner John Deaton is spearheading efforts to investigate Operation Chokepoint 2.0—a suspected government-led initiative to restrict financial services for crypto-related businesses.
Deaton argues that the operation represents a corrupt abuse of power, targeting lawful businesses based on political motives rather than legal grounds. He has pledged to lead the investigation without salary, highlighting his commitment to safeguarding both economic freedom and industry innovation.
Federal Investigation Into Crypto Bank Collapses
Deaton has called for a deep examination of several high-profile crypto bank failures in 2022, including Silvergate Bank and Silicon Valley Bank (SVB), which collapsed during the bear market.
These events triggered speculation about coordinated efforts by federal regulators to stifle the crypto industry.
Despite denials from the Biden administration, documents obtained by Coinbase suggest a deliberate attempt to isolate crypto businesses. The documents revealed that 23 “pause letters” were sent to banks, urging them to cut off services to crypto firms.
Coinbase filed motions to access the unredacted versions of these letters and received them on Jan. 3, 2025.
“When lawful businesses are cut off from essential financial services based on political agendas rather than established law, it doesn’t just stifle one industry—it sets a dangerous precedent,” Deaton stated.
He believes a thorough investigation could expose a network of regulators who misused their authority to suppress industries they oppose.
Trump Vows to End Operation Chokepoint 2.0
Deaton’s push for accountability aligns with Donald Trump’s vow to eliminate Operation Chokepoint 2.0 as part of his broader plan to reduce regulatory overreach.
Speaking at the Bitcoin Conference in July 2024, Trump criticized the initiative and pledged to end it immediately if elected.
“As president, I will immediately shut down Operation Choke Point 2.0,” Trump said. “They want to choke you out of business—we’re not gonna let that happen.”
A New Era for Pro-Crypto Policies?
Deaton remains optimistic that Trump’s administration could provide the political will necessary to investigate and dismantle the operation. He emphasized that addressing regulatory overreach is essential for preserving market integrity and protecting lawful businesses.
Looking Ahead
With growing support for crypto-friendly policies and renewed focus on financial freedom, Deaton’s push for accountability could mark a turning point for the industry.
As the investigation unfolds and Trump’s administration prepares for potential reforms, the crypto market could experience increased stability, regulatory clarity, and broader adoption in the years ahead.
