'Nothing is a coincidence with the government,' claims US lawmaker on Operation Choke Point 2.0

cointelegraph.com:

United States Congressman Byron Donalds criticized the country's regulatory agencies on April 12 at the NFT.NYC 2023 conference in New York. According to Donalds, agencies like the Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC) and others are being used to activate "Operation Choke Point 2.0" by limiting crypto business access to banking services. 

Operation Choke Point 2.0 describes the U.S. government's alleged coordinated effort to discourage banks from working with crypto firms under the guise of ensuring safety and stability. Crypto industry commentators believe government attempts to restrict access to the crypto sector have ramped up in 2023. 

"What I've seen in my short time in Congress is that nothing is a coincidence with the government agency," the legislator said during a keynote speech, referring to the U.S. government's recent crackdown on crypto. "They are talking across lines a lot more than they ever used to. They are finding various ways to squeeze an outcome that they want."

Along with efforts to limit the banking system's exposure to crypto, Donalds believes the Federal Reserve is "laying the foundation for a CBDC," or central bank digital currency, with recent enforcement actions being part of plans for a digital dollar.

The Floridan congressman also noted that the U.S. government doesn't have enough knowledge about the crypto industry to regulate it properly, and through its agencies, is relying on a "legacy framework of 100 years" to create rules and regulations for today's needs. "To bring us into lay terms, [...] This will be like asking a sixth-grade basketball player to ref the NBA finals," he said before urging an updated regulatory environment for