U.S. House of Representatives slams Trump's currency issuance at hearing on bank decentralization

Odaily News Texas Rep. Al Green, a senior member of the U.S. House of Representatives Oversight and Investigations Subcommittee, criticized U.S. President Trump for launching Meme Coin while also pursuing a "deregulatory cryptocurrency-supporting agenda."
During a Feb. 6 hearing of the House Financial Services Committee’s Oversight and Investigations Subcommittee, Green immediately questioned claims by Republican leadership that the previous administration “put crypto in the crosshairs of U.S. regulators.” Green said the colloquial term “Operation Choke Point 2.0” used by some lawmakers and cryptocurrency executives, which claimed that former U.S. President Joe Biden’s administration had orchestrated an attempt to debank the industry, was a “sham scheme that was never launched.”
He said the Federal Deposit Insurance Corporation (FDIC) and U.S. financial regulators under the previous administration warned financial institutions of possible business ties with cryptocurrency companies rather than ordering them to stop providing services, a view echoed by Shayna Olesiuk, director of bank policy at Better Markets, who testified at the hearing.
“Regulators requiring banks to consider risks associated with the cryptocurrency industry is not the same as debanking,” Green noted.
He also suggested that lawmakers should turn their attention to the meme coin that Trump launched before he took office on January 17. Neither subcommittee Chairman Dan Meuser nor Financial Services Committee Chairman French Hill commented on TRUMP Coin in their opening statements.