{"id":60192,"date":"2025-11-25T04:46:40","date_gmt":"2025-11-25T04:46:40","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=60192"},"modified":"2025-11-25T04:46:40","modified_gmt":"2025-11-25T04:46:40","slug":"senator-lummis-criticizes-jpmorgan-claims-anti-crypto-policies-propel-industry-offshore","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=60192","title":{"rendered":"Senator Lummis Criticizes JPMorgan, Claims Anti-Crypto Policies Propel Industry Offshore"},"content":{"rendered":"
\n

The crypto industry and supporters, including Senator Cynthia Lummis, are expressing strong discontent over JPMorgan\u2019s recent decision to close the account of Strike CEO Jack Mallers.<\/p>\n

Lummis, a pro-crypto voice in Congress, highlighted this incident as part of a larger issue, referencing Operation Chokepoint 2.0, a term used to describe the coordinated effort by federal banking authorities to restrict access to banking services for the digital asset sector.<\/p>\n

\u2018Operation Chokepoint 2.0 Lives On\u2019<\/h2>\n

Mallers took to social media platform X (previously Twitter) to share his bewilderment over his account closure, stating<\/a>, \u201cLast month, J.P. Morgan Chase threw me out of the bank. It was bizarre. My dad has been a private client there for 30+ years.\u201d\u00a0<\/p>\n

He indicated that when he sought clarification from JPMorgan about the closure, he received no substantial answers, only being informed that they couldn\u2019t disclose details.\u00a0<\/p>\n

In a letter from the bank, he was notified of unspecified \u201cconcerning activity\u201d on his accounts, which asserted that JPMorgan might not be able to open new accounts for him in the future.\u00a0<\/p>\n

Lummis weighed in on the matter, stating <\/a>on X, \u201cOperation Chokepoint 2.0 regrettably lives on. Policies like JP Morgan\u2019s undermine confidence in traditional banks and send the digital asset industry overseas.\u201d\u00a0<\/p>\n

She stressed the urgency of addressing these issues, asserting that it is time to put Operation Chokepoint to rest and position the US as the digital asset capital of the world.<\/p>\n

The controversy surrounding JPMorgan intensified when Bo Hines, a former head of Trump\u2019s Council of Advisers on Digital Assets and now advisor to stablecoin issuer Tether, publicly confronted the bank.\u00a0<\/p>\n

He remarked<\/a>, \u201cHey Chase\u2026 you guys know Operation Choke Point is over, right? Just checking,\u201d drawing attention to the perceived disconnect between JPMorgan\u2019s actions and the positive regulatory landscape surrounding crypto assets.<\/p>\n

JPMorgan Boycott?<\/h2>\n

In addition to these criticisms, a more significant concern emerged with JPMorgan\u2019s warnings about potential consequences for Strategy (MSTR). NewsBTC reported <\/a>last week that Michael Saylor\u2019s firm may lose its standing in key indices, such as MSCI USA and the Nasdaq 100, due to proposed changes by MSCI.\u00a0<\/p>\n

Analysts from JPMorgan claimed that this change could trigger passive outflows estimated between $2.8 billion and $8.8 billion if the MSCI decision proceeds as anticipated by January 15.<\/p>\n

MSCI has suggested proposals to exclude companies with more than 50% of their assets in digital currencies from its global indexes, putting Strategy <\/a>at significant risk.\u00a0<\/p>\n

JPMorgan analysts noted, \u201cMicroStrategy is at risk of exclusion from major equity indices as the January 15th MSCI decision approaches,\u201d underscoring the urgency of the situation.<\/p>\n

Market expert Adam Livingston voiced his frustrations on social media, calling <\/a>for a boycott of JPMorgan and accusing the bank of waging a \u201cwar with Bitcoin.\u201d\u00a0<\/p>\n

He emphasized that JPMorgan underestimated the resilience of the Bitcoin community, asserting that they thought they could undermine MSTR without repercussions.\u00a0<\/p>\n

Livingston recalled that the bank, which benefited from bailouts during the 2008 financial crisis, seemed to assume Bitcoin supporters would remain subdued and obedient.<\/p>\n

\"JPMorgan\"<\/p>\n

Amid the controversy surrounding one of the world\u2019s top banking institutions, Bitcoin witnessed a tiny recovery on Monday, trading at $87,830 when writing, following a significant plunge that saw the market\u2019s leading cryptocurrency retrace all the way down to $80,000 last Friday.\u00a0<\/p>\n

Featured image from Reuters, chart from TradingView.com\u00a0<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The crypto industry and supporters, including Senator Cynthia Lummis, are expressing strong discontent over JPMorgan\u2019s recent decision to close the account of Strike CEO Jack Mallers. Lummis, a pro-crypto voice in Congress, highlighted this incident as part of a larger issue, referencing Operation Chokepoint 2.0, a term used to describe the coordinated effort by federal […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-60192","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/60192","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=60192"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/60192\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=60192"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=60192"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=60192"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}