Former Obama Solicitor Accuses Regulators of Crypto ‘Debanking’ Strategy

• Bipartisan legal support for Custodia Bank signals shifting political winds favoring crypto.
• Federal regulators accused of deliberate efforts to restrict banking access for crypto firms.
• SEC’s aggressive stance against major crypto firms exacerbates regulatory uncertainty.

The landscape of cryptocurrency regulation in the United States is undergoing significant shifts, particularly with the involvement of high-profile legal figures such as Donald Verrilli and Paul Clement.

Verrilli, a former Solicitor General under President Obama, and Clement, who held the same position under President Bush, are uniting to support Custodia Bank in its legal battle against the Federal Reserve. This collaboration signals growing bipartisan support for the crypto industry as the November elections approach.

NEW: Verrilli (Obama’s Solicitor General who was in office during the original Operation Chokepoint) and Clement (Bush’s Solicitor General) have clashed over a number of Supreme Court cases over the years but the pair have come together to support @custodiabank, and the #crypto… https://t.co/wGgoqZM0x7

— Eleanor Terrett (@EleanorTerrett) July 4, 2024

Verrilli ha…

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