Elizabeth Warren, who is known for her adamant opposition to the cryptocurrency industry, has launched a re-election campaign dubbed “anti-crypto.” In one of her recent tweets, Warren called for a crackdown on the cryptocurrency industry, reiterating her disapproval of cryptocurrencies.

For several years, Warren has been an outspoken critic of cryptocurrencies, claiming that they are used for illegal activities such as money laundering and terrorism financing. She is also concerned about the industry’s lack of regulation, which she believes puts investors at risk.

Warren tweeted that the recent collapse of the FTX exchange should serve as a wake-up call for the Justice Department, SEC, and US Treasury to take action against cryptocurrencies. The crypto community reacted differently to her remarks, with many arguing that the failure of a single exchange does not represent the entire industry.

However, analysts have suggested that Warren’s call for a crackdown on cryptocurrencies is part of Operation Choke Point 2.0, a larger operation. This operation is designed to target high-risk industries, including the cryptocurrency industry.

Operation Choke Point 2.0 Targets Cryptocurrencies

The US government launched the original Operation Choke Point to target businesses that posed a high risk of fraud or money laundering. The operation was heavily criticized by business owners and legislators, who argued that it was an attempt by the government to target legitimate businesses.

It is believed that Operation Choke Point 2.0 will target the cryptocurrency industry as a whole, as opposed to specific companies. This could result in increased oversight and regulation of cryptocurrency exchanges and other businesses in the sector.

There are still many lawmakers who support the growth and development of the cryptocurrency industry, despite Warren’s anti-crypto stance. Some have even proposed legislation that would provide the industry with clearer guidelines and regulations, which they believe would protect investors and encourage innovation.

In conclusion, US Senator Elizabeth Warren’s call for a crackdown on cryptocurrencies is not new and is part of a larger effort to bring the industry to its knees. However, there are still a significant number of legislators who support the expansion of the cryptocurrency industry and believe it has the potential to revolutionize the financial sector. How this debate will play out in the coming years, and whether cryptocurrencies will become a more mainstream asset class, remains to be seen.