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Bank Regulators Say ‘No Operation Choke Point 2.0! Seriously! Believe Us!’

A clarification of a previous statement comes the same day Custodia Bank’s application to join the Federal Reserve system is again denied.

February 25, 2023

Apparently, all our angry howling worked. This week, the Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation and the Federal Reserve Board of Governors, while nominally speaking about the liquidity risks of crypto banking, took pains to say they weren’t saying banks weren’t allowed to work with crypto companies. As you might guess, many in the crypto space aren’t buying it. We think the Regulator Doth Protest Too Much?

“The Breakdown” is written, produced and narrated by Nathaniel Whittemore aka NLW, with editing by Michele Musso and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsor today is “Foothill Blvd” by Sam Barsh. Image credit: Stevanovicigor/ Getty images, modified by CoinDesk.

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