DC bureaucrats have already tried de-banking crypto – now they’re after small businesses’ insurance
In an op-ed for Captive International, Ryan Foncannon (pictured), founder and managing partner of S.W.A.N. Virtual Family Office, issues a call for action on micro-captives.
We’ve seen this playbook before. The original Operation Choke Point was an Obama-era scheme applying regulatory pressure to lawful businesses that federal bureaucrats didn’t like introduced without congressional authorisation. Banks weren’t directly ordered to de-bank controversial industries such as gun manufacturers or payday lenders, but they were subjected to scrutiny, making it easier simply to cast them aside.
Former President Biden’s administration spun up a similar effort, known as Operation Choke Point 2.0, against the crypto industry. Regulators…
