JPMorgan faces major boycott after fresh crypto debanking allegations

Core Viewpoint - The crypto industry is facing renewed challenges from major financial institutions, particularly JPMorgan Chase, amid proposed regulatory changes that could significantly impact Bitcoin-related companies [1][2]. Group 1: Industry Response - Prominent Bitcoin supporters and analysts are calling for a boycott of JPMorgan in response to the proposed MSCI index rule changes that would exclude companies with over 50% crypto assets [2]. - The term "Operation Chokepoint 2.0" has been adopted by the crypto community to describe perceived coordinated efforts by regulators and banks to restrict services to crypto businesses [3]. Group 2: Historical Context - The original Operation Chokepoint occurred from 2013 to 2017 under the Obama administration, targeting high-risk industries, and crypto leaders believe similar tactics are being used against their sector now [4]. - Donald Trump acknowledged the issues faced by the crypto industry and signed an executive order to prevent the debanking of crypto initiatives, but recent events have raised concerns that such practices continue [5]. Group 3: Recent Developments - The situation escalated when Strike CEO Jack Mallers disclosed that JPMorgan had abruptly closed his accounts, highlighting ongoing tensions between the crypto industry and traditional banking [6].