Coinbase Sues SEC Over 'Operation Choke Point 2.0', Wins $150,000 in Damages

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Coinbase sued the SEC over 'Operation Choke Point 2.0' and won $150,000 in damages after the agency deleted text message evidence. The policy pressured banks to sever ties with crypto firms, drawing criticism from lawmakers such as Maxine Waters. As global regulators advance frameworks like MiCA and CFT, the case underscores the tensions between oversight and innovation in the crypto sector.

ChainThink reports that on July 22, according to The Wall Street Journal, Coinbase filed and won a lawsuit against U.S. government actions related to "Operation Choke Point 2.0" targeting the crypto industry, with the SEC ordered to pay $150,000 in damages for deleting text message evidence.

Reports indicate that the action previously involved pressuring banks to cut off business relationships with legitimate cryptocurrency businesses and users.

House Financial Services Committee Democratic Chair Maxine Waters also criticized the government for closing citizens' bank accounts without cause or recourse.

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