JD Vance announces demise of ‘Operation Chokepoint 2.0’ and commits to providing clarity in the crypto market.

US Vice President JD Vance announced on May 28 that Operation Chokepoint 2.0 has been effectively terminated. During his address at the 2025 Bitcoin Conference in Las Vegas, he proclaimed an end to federal regulatory efforts aimed at the cryptocurrency sector, marking the start of new legislative backing for the industry.

Vance emphasized that the previous administration under Donald Trump had brought an end to what he termed the “weaponization of federal regulations” against digital currencies, asserting that these policies would not be reinstated. He stated:

> “Let today’s remarks serve as the obituary for [Operation Chokepoint 2.0]. We reject the enforcement legacy of the Biden administration.”

The term Operation Chokepoint 2.0 has been used by supporters of cryptocurrency to identify actions taken by banking regulators that allegedly sought to restrict the interaction between the cryptocurrency sector and the US banking system.

Vance pointed out that under the Trump administration, Gary Gensler was removed as the chair of the US Securities and Exchange Commission (SEC), and he pledged to continue dismissing officials with similar regulatory approaches.

He expressed:

> “We reject regulators, and we dismissed Gary Gensler. We will remove others like him.”

In this same address, Vance urged for a legislative framework regarding cryptocurrency policy, indicating that the government seeks to solidify the position of digital assets—particularly Bitcoin—within the US financial landscape.

He declared:

> “We want our fellow Americans to understand that digital assets, especially Bitcoin, are integral to the mainstream economy and are here to stay.”

Moreover, Vance supported efforts in Congress to enact a comprehensive market structure bill related to cryptocurrencies and cautioned that a lack of clear regulations might drive the $3 trillion industry abroad.

He noted that promoting cryptocurrency as part of the mainstream economy relies on legislation that enhances the value associated with Bitcoin and other digital assets.

The Vice President also mentioned the GENIUS Act, which aims to broaden the use of dollar-backed stablecoins while imposing transparency requirements.

He argued that stablecoins do not undermine the US dollar’s position but rather function as a “force multiplier” to enhance its global influence.

Vance estimated that around 50 million Americans currently own Bitcoin and suggested this figure could soon double. He contextualized Bitcoin within larger economic and political narratives, portraying its adoption as a safeguard against various challenges.

He stated:

> “Cryptocurrency serves as a buffer against poor policymaking from Washington, regardless of which party governs. It acts as a defense against rising inflation, which has diminished Americans’ real savings over the past four years.”

He criticized what he perceived as ideological bias in the private financial sector, asserting that decentralized networks defend Americans from access restrictions based on differing viewpoints.

His comments further reinforced the Trump administration’s shift toward favorable policies for cryptocurrency, aligning federal executive intentions with a legislative agenda aimed at stablecoin regulation, clarity in market structure, and the incorporation of digital assets into the established financial system.