<p>It is a <a href="https://www.google.com/search?q=definition+retorical" rel="nofollow noreferrer">rhetorical</a> reference to <a href="https://en.wikipedia.org/wiki/Operation_Choke_Point" rel="nofollow noreferrer">operation chokepoint</a></p>
<p>Unlike the original, there is no evidence that 2.0 exists as a named DoJ project.</p>
<hr />
<p>The phrase &quot;what many are calling&quot; is also a common rhetorical device to suggest something while avoiding taking responsibility and without providing any proper references to sources which could provide the details you seek.</p>
<p>It means that the owners or managers of Bitwage object to what they see as government overreach in what government agencies presumably see as protecting vulnerable consumers from exploitation by relatively unregulated or lightly regulated financial businesses. You and I may have a perspective that differs from that of either party.</p>
<p>As you know, none of this requires Bitcoin technical knowledge to answer and is not the sort of question that this website is best suited for -- at least partly because it likely is not related to a specific practical problem the question asker is facing, might not have a single correct answer and might invite subjective opinion-based answers or discussion (<a href="https://bitcoin.stackexchange.com/a/123117/13866">evidence</a> for the latter).</p>

CC BY-SA 4.0
2024-05-23T13:53:24.440Z
2024-05-23T14:00:07.283Z
2024-05-23T14:00:07.283Z
RedGrittyBrick
<p>What exactly is Operation Chokepoint 2.0?</p>
<p>In an email with subject &quot;[URGENT] Bitwage Banking Switch - Change of Service Offered&quot; dated today, <a href="https://www.bitwage.com/" rel="nofollow noreferrer">BitWage</a> said:</p>
<blockquote>
<p><strong>Dear Bitwage Community,</strong></p>
<p>The cryptocurrency sector has been facing challenges due to increasing regulatory pressure on the US banking industry, in what many are calling “Operation Chokepoint 2.0”. This pressure has come in the form of SEC Wells Notices, closed-door conversations between regulators and banks, and restricting direct access from crypto-friendly banks to the Federal Reserve. In our commitment to providing you with the highest quality service, we have worked diligently to maintain stable banking relationships amidst this industry crackdown.</p>
</blockquote>

CC BY-SA 4.0
2024-05-17T13:36:03.077Z
I’m voting to close this question because it is a legal and/or journalistic question, not a question about technology.
Pieter Wuille
CC BY-SA 4.0
2024-05-17T22:45:59.330Z
@PieterWuille The social implications of the technology are off-topic here? What are the [regulation], [money-laundering], and [financial-regulations] tags for, then?
Geremia
<regulation><usa><money-laundering><financial-regulations>
What is Operation Chokepoint 2.0?
Geremia
# What is Operation Chokepoint 2.0?

(Asked by: username_0 on 2024-05-16)

What exactly is Operation Chokepoint 2.0?

In an email with subject "[URGENT] Bitwage Banking Switch - Change of Service Offered" dated today, [BitWage](https://www.bitwage.com/) said:

> **Dear Bitwage Community,**
>
> The cryptocurrency sector has been facing challenges due to increasing regulatory pressure on the US banking industry, in what many are calling “Operation Chokepoint 2.0”. This pressure has come in the form of SEC Wells Notices, closed-door conversations between regulators and banks, and restricting direct access from crypto-friendly banks to the Federal Reserve. In our commitment to providing you with the highest quality service, we have worked diligently to maintain stable banking relationships amidst this industry crackdown.

**Tags:** regulation, usa, money-laundering, financial-regulations

> **Comments:**
> **username_1**: I’m voting to close this question because it is a legal and/or journalistic question, not a question about technology.  
> **username_0**: @username_1 The social implications of the technology are off-topic here? What are the [regulation], [money-laundering], and [financial-regulations] tags for, then?  

---

## 1 answers

### Answer by username_2 on 2024-05-23. Score: 1 | Accepted answer

It is a [rhetorical](https://www.google.com/search?q=definition+retorical) reference to [operation chokepoint](https://en.wikipedia.org/wiki/Operation_Choke_Point)

Unlike the original, there is no evidence that 2.0 exists as a named DoJ project.

---

The phrase "what many are calling" is also a common rhetorical device to suggest something while avoiding taking responsibility and without providing any proper references to sources which could provide the details you seek.

It means that the owners or managers of Bitwage object to what they see as government overreach in what government agencies presumably see as protecting vulnerable consumers from exploitation by relatively unregulated or lightly regulated financial businesses. You and I may have a perspective that differs from that of either party.

As you know, none of this requires Bitcoin technical knowledge to answer and is not the sort of question that this website is best suited for -- at least partly because it likely is not related to a specific practical problem the question asker is facing, might not have a single correct answer and might invite subjective opinion-based answers or discussion ([evidence](https://bitcoin.stackexchange.com/a/123117/13866) for the latter).


---

