According to Coinomedia, U.S. Senator Cynthia Lummis has criticized JP Morgan for policies she claims are harming the crypto industry and undermining trust in traditional banks. She cited the case of Strike CEO Jack Mallers, who was reportedly denied access to financial services, as evidence that 'Chokepoint 2.0'—a term referring to alleged efforts to restrict banking access for crypto firms—is already in effect. Lummis warned that such actions are pushing digital asset businesses overseas and harming the U.S. economy. The crypto industry has long called for fair access to banking services, with many firms relocating to more crypto-friendly jurisdictions due to regulatory uncertainty.
U.S. Senator Lummis Warns of 'Chokepoint 2.0' as JP Morgan Policies Target Crypto
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