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by rualca 2024 days ago
> "Operation Choke Point" was a 2013 inititative by the DoJ to hurt legal but unpopular businesses (...) by making it harder for banks to provide services to them.

Honest question: can the US goverent stop anyone from launching their banking/payment services?

1 comments

Probably not. I think what would stop you would be the mountain of regulations required to be a payment provider and tie the networks required for ACH and other types of transfers. And then of course, you need the relationships with all the other banks and so you are really back at square one. Now you are in the same position Mastercard is in.