Chokepoint 2.0
Continuing with my #NFT #Crypto posts series if your just seeing this one you might also be interested in my previous post here on Medium
It is an interesting point of view and I tend to see merit in it. If your not familiar chokepoint 2.0 has been written about just after the 2023 financial crisis here is one overview https://blockworks.co/news/chokepoint-2-0-efforts-effective
If you have tried to purchase crypto and used multiple decentralized exchanges you have likely ran into the purchase being declined by credit cards (or your credit card shut down and locked like I had happen to me) and or bank wire being rejected.
I ran into this with purchasing NBA Topshot moments with various ways to purchase being blocked from both trying to buy with crypto and setting up initial crypto purchase but then also with credit cards as NBA Topshot was being billed as an international purchase being its billed from Canada.
Its also been well covered the head of the Sec has been trying to go after shutting down crypto for sometime. The recent announcement of suing the two largest crypto markets remaining lends even more creditability to the theory of Chokepoint 2.0 to my mind.
If you want to get Coinbases take on the issue take a look at their site
https://www.coinbase.com/public-policy/legislative-portal
I checked out Florida and while it shows only 18 % in favor that’s in office. I would point out what factors in ones with not enough data to judge with not enough votes on crypto legislation currently against the score so when legislation is passed we will have a better idea of where they stand also Coinbase is likely to ramp up more data metrics with next years election.
“Florida Out of a total 28 representatives in Florida, 18% (5) of representatives are supportive of crypto. The remaining representatives (23) have not made their stance on crypto clear. “
I find some positive news out there for the crypto community.
Visa still trying to onboard people with transaction settling
https://usa.visa.com/about-visa/newsroom/press-releases.releaseId.19881.html#
“Visa Expands Stablecoin Settlement Capabilities to Merchant Acquirers”
That was just announced today.
Mastercard continues to offer crypto certifications as well.
https://academy.mastercard.com/event/0bc8e56f-1004-4d3a-bd59-48ced58bd290/summary Cyphertrace
Paypal set to offer a stable coin
https://cointelegraph.com/news/paypal-stablecoin-crypto-adoption#
Swift the international banking settlement service working with Chainlink completed multi blockchain transactions for this first time in the last month.
Behind the scenes despite the SEC attempt to protect the political old powers and standings with monetary systems others are moving forward with the new technology.
