U.S. Senator Lummis criticizes JPMorgan's anti-encryption stance, calls for an end to "Operation Chokepoint 2.0"

U.S. Senator Cynthia Lummis ( criticized JPMorgan's anti-Crypto Assets stance, calling for an end to “Operation Chokepoint 2.0” ). She believes that the bank's actions undermine public trust in traditional banking and hinder the development of digital assets in the U.S.

The controversy began when JPMorgan closed the account of Strike CEO Jack Mallers, a staunch supporter of Crypto Assets. Mallers criticized JPMorgan for not providing a clear reason, merely claiming that concerning activities were found during a routine review.

As an active advocate for Bitcoin and Crypto Assets, Loomis expressed strong dissatisfaction with JPMorgan's actions. She posted on the X forum that such policies would lead people to lose trust in traditional banks and push the digital asset industry to other countries. (CoinGape)