Gemini co-founder Tyler Winklevoss has accused US Vice President and Democratic presidential candidate Kamala Harris of announcing a fake reset of the Biden administration’s and the US Democratic Party’s supposed “anti-crypto” policies. This development follows several other events in the run-up to the US general election in which the digital asset industry has become a major talking point.

Operation Choke Point 2.0 still ongoing, Fed goes all out if Harris wins: Winklevoss

In an X post on Friday, Tyler Winklevoss claimed that the alleged “Operation Choke Point 2.0,” a perceived active move by the current US administration to debank the crypto industry and cripple the digital asset space, is still operational.

The Gemini co-founder has backed up his claims with an enforcement action by the US Federal Reserve against crypto-friendly Customers Bank. He argues that, contrary to popular belief, the current administration, including Vice President Kamala Harris, is not backing down from its “anti-crypto” stance.

Today, the Fed confirmed that Operation Choke Point 2.0 is still in full swing, provided valuable insight into how it works, and confirmed that the Harris crypto “reset” is a scam. The Fed revealed all this in a 13-page enforcement action it issued this morning against… photo.twitter.com/zhLRRWAH0E

— Tyler Winklevoss (@tyler) August 9, 2024

According to a court order released Friday, the Fed found serious deficiencies in Customers Bank’s risk management systems, as well as violations of U.S. anti-money laundering laws. However, Winklevoss emphasizes that these shortcomings and violations were not cited. Instead, the Customers Bank is now required to provide a 30-day notice to the Apex Bank before working with any digital asset entity.

Tyler Winklevoss opposes the penalty, arguing it is a form of “Choke Point” because it requires banks to retain autonomy in deciding which companies they do business with, rather than having to seek approval from the Fed.

Gemini’s co-founder said:

The decision to bank a company should be decentralized across the banking sector and made by each bank at its own discretion. This decision is now centralized by the Fed and will be made by the Fed at its own discretion. The Choke Point has been created.

Interestingly, Winklevoss posits that this event is a warning sign, as he claims that the Fed is currently “playing nice with Nerf guns.” He predicts that if Kamala Harris emerges victorious in November, Operation Choke Point 2.0 will be in full swing.

A vote for Kamala Harris is a vote against crypto – Cardano CEO

In a response to Tyler Winklevoss’ post, Cardano founder and CEO Charles Hoskinson stated that voting for Kamala Harris for president would come at the expense of the crypto industry. Like Winklevoss, he claims that the current Biden-Harris administration is not backing down from its “anti-crypto” policies.

Interestingly, these developments follow a recent meeting between White House officials and key crypto figures, including billionaire Mark Cuban, Ripple CEO Garlinghouse, and others. The goal was to ease the current tension between the two parties and develop future crypto policy.