The reach of Operation Chokepoint 2.0 has broadened beyond the cryptocurrency sector, extending its influence to tech giants like Visa and Mastercard. In a recent post on X, Balaji Srinivasan, the former Chief Technology Officer at Coinbase, shared a screenshot of a letter sent by U.S. legislators to Visa, Mastercard, and Stripe. The letter urges these companies to withdraw their support from the Libra project backed by Meta.
According to earlier reports, Janet Yellen, the U.S. Treasury Secretary, is implicated in the efforts to thwart the Libra project, as disclosed by David Marcus, Meta's former head of cryptocurrencies. Balaji revealed an excerpt from a letter sent by Senators Brian Schatz and Sherrod Brown to several fintech giants, which threatens to "review" Visa and all payment service providers associated with the project. He stated that such "reviews" send a message to regulators about fabricating violations and imposing fines until the targets comply.