The regulatory bodies are effectively strangling the industry by making it challenging to operate by preventing access to banking services, despite being legally allowed to function. This tactic, similar to what was used against the marijuana industry, involves leveraging administrative powers such as FDIC warnings to banks. The strategy is known as 'chokepoint 2.0' in the crypto industry, aimed at restricting financial services to these companies, pushing them to operate on a cash basis and attempting to sideline the industry through regulatory means.

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