• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: BREAKING: Saylor's Strategy Misses S&P 500 Inclusion, Robinhood Takes Spotlight
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: BREAKING: Saylor's Strategy Misses S&P 500 Inclusion, Robinhood Takes Spotlight
Crypto crackdown US

US Government Secretly Cracking Down On Crypto? Signs Are Evident

Jake Simmons
by Jake Simmons
2 years ago
·
Posted in Crypto News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The crypto industry is facing increased regulatory pressure since the beginning of the year, which has sparked discussion on Twitter about whether the U.S. government is secretly trying to crack down on the entire industry.

The latest piece of the theory’s puzzle comes from Coinbase CEO Brian Armstrong. Writing via Twitter a few hours ago, Armstrong said he had heard rumors that the U.S. Securities and Exchange Commission (SEC) wants to ban retail staking in the United States.

Jake Chervinsky, chief policy officer at the Blockchain Association, confirmed the rumor. “I’ve heard the same rumor and strongly agree with Brian that an attack on staking would be an extreme error in US policy,” the attorney said.

Rumors About A Crypto Crackdown

Just yesterday, it was officially announced that the SEC has launched an investigation into Kraken, one of the largest US exchanges. The reason is the alleged offering of unregistered securities to US customers.

But the attack on the crypto industry goes much deeper. Journalist Nic Carter wrote:

I don’t want to alarm, but since the turn of the year, a new Operation Choke Point type operation began targeting the crypto space in the US. it is a well-coordinated effort to marginalize the industry and cut off its connectivity to the banking system – and it’s working.

Author Samuel Andrew reports that the US central bank and the Office of the Comptroller of the Currency (OCC) are in the midst of a massive crypto-debanking operation. An anonymous source told Andrew, “what is going on is draconian and aimed to kill crypto.”

Related Reading: SEC To Step Up Probe On Firms And Brokers Pitching Crypto

The analyst explained that the Fed and OCC are even targeting Morgan Stanley and Custodia, as well as crypto-friendly states like Wyoming. Another source told Andrew that Paxos and others were told by the OCC to either withdraw their applications for a banking license or they would be rejected by Friday.

“VC’s are starting to become very, very concerned that their crypto portfolio companies are being de-banked en masse,” Andrew cited another source, continuing, “The OCC is said to produce a paper shortly that is said to be so draconian that a sizable portion of OCC employees may depart.”

Traces Of The US Government

The U.S. government seems to be focusing in particular on the connection of the industry to the banking sector. A supposed goal could be that crypto companies end up completely without a bank connection, so that they do not process deposits and withdrawals in fiat, as Binance recently communicated for US customers (not Binance US). But stablecoins could also run into problems.

There are many signs for this, as Carter wrote. On December 7, Signature Bank announced its intention to cut crypto customer deposits in half. On January 3, the Fed, FDIC, and OCC released a joint statement on security risks for banks dealing with cryptocurrencies.

A few days later, on January 9, Metropolitan Commercial Bank terminated all crypto operations. On January 21, Binance responded to Signature Bank’s policy and decided to only process fiat transactions worth more than $100,000.

Related Reading: Bitcoin Exchange Supply Continues Decline As Holders Push Towards Self-Custody

On January 27, the Federal Reserve rejected crypto bank Custodia’s two-year application to join the Federal Reserve System and issued a warning for banks to hold crypto assets or issue stablecoins. On the same day, the National Economic Council also issued a policy statement that did not explicitly prohibit banks from serving crypto customers, but strongly advised banks not to do so.

Even in the first week of February, actions continued. The Department of Justice opened an investigation into Silvergate for its dealings with FTX and Alameda. On Tuesday, the Fed had its January 27 statement published in the Federal Register, making the statement a final rule, without Congressional review.

Whether the initiatives will succeed or whether the crypto industry in the U.S. can withstand the pressure remains to be seen. If not, the industry could be forced to go offshore.

At press time, the Bitcoin price stood at $22,711.

Bitcoin price price down after crypto crackdown rumors
BTC price at crucial support, 4-hour char | Source: BTCUSD on TradingView.com
Featured image from Lucas Sankey / Unsplash, Chart from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Jake Simmons

Jake Simmons

Follow

Jake Simmons has been a Bitcoin enthusiast since 2016. Ever since he heard about Bitcoin, he has been studying the topic every day and trying to share his knowledge with others. His goal is to contribute to Bitcoin's financial revolution, which will replace the fiat money system. Besides BTC and crypto, Jake studied Business Informatics at a university. After graduation in 2017, he has been working in the blockchain and crypto sector. You can follow Jake on Twitter at @realJakeSimmons.

Full Profile

Related Posts

Pepenode presale reaches $800k allows users to mine meme coins

Pepenode’s Presale Reaches $800K As It Allows Users to Create Virtual Crypto Mining Rigs

36 minutes ago
Crypto

Crypto Boom Soon? Major Banks Predict At Least 2 Rate Cuts After Weak Labor Data

20 hours ago
Trump Media

Trump Media Invest $105M In CRO Following Crypto.Com Treasury Agreement

22 hours ago
MARA Bitcoin holdings near $6b Bitcoin Hyper gains

MARA’s Bitcoin Treasury Nears $6B After Mining 705 $BTC in August, Fueling Bitcoin Hyper’s $14M Presale

1 day ago
SOL Strategies to List on Nasdaq: Solana Outlook and Why You Can’t Miss $SNORT

SOL Strategies to List on Nasdaq: Solana Outlook and Why You Can’t Miss $SNORT

1 day ago
XRP

XRP In The Skies: Air China May Let Millions Pay With Crypto

1 day ago

Premium Sponsors

Press Releases

  • miner

    XRP price battles for key support levels, with holders...

    16 hours ago
  • miner

    Global Investors Tap BAY Miner App for BTC and XRP Monthly...

    16 hours ago
  • Cloud Mining

    From Holding to Profit: How XRP Earns $27,000 Daily from...

    19 hours ago
  • minwer

    XRP Holders Can Earn $10,000 a Day Through COME...

    2 days ago
  • BTC prices hit a two-week high, and holders flocked to GMO...

    2 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.