Hearing: Operation Choke Point 2.0: The Biden Admin's Efforts to Put Crypto in the Crosshairs

House Financial Services Subcommittee on Oversight and Investigations

2025-02-06

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Source: Congress.gov

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Hello, everybody.

Good night, everyone. Thank you.

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Ladies and gentlemen, the subcommittee on oversight and investigations will come to order. Without objection, the chair is authorized to declare a recess of the committee at any time. This hearing is entitled Operation Chokepoint 2.0, the Biden administration's efforts to put crypto in the crosshairs. Without objection, all members will have five legislative days within which to submit extraneous materials to the chair for inclusion in the record. As a point of personal privilege, I want to say this is our first hearing of oversight and investigations for the Financial Service Committee for the 119th Congress, so I appreciate very much everyone being here and we look forward to a very productive and civil and worthwhile time together. I'm pleased that we have our full committee chairman, Chairman Hill, with us. And now on another point of personal privilege, I would like to yield to our ranking member, Representative Al Green.

Thank you, Mr. Chairman. I'm honored to congratulate you on your new position, your new station in life. I do look forward to working with you and I welcome all of the members to the committee and would indicate that I appreciate your kindness and generosity in agreeing to allow me to have next to the last opportunity to speak at committee hearings. And again, I'm grateful.

Very good. Thank you. I now recognize myself for four minutes to give an opening statement. Today's hearing is entitled Operation Chokepoint 2.0, the Biden administration's effort to put crypto in the crosshairs. I'd like to thank the witnesses very much for appearing before the committee today to share their experience, their great experience and expertise on this issue. Biden administration's Operation Chokepoint 2.0 was carried out by the prudential regulators to target and, in fact, debank the digital asset ecosystem.

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