Former Special U.S. Assistant Attorney John Deaton has said it would be “both an honor and a privilege” to lead a federal investigation into Chokepoint 2.0, an alleged government plot to suffocate the crypto industry. Deaton, who is willing to perform this role without compensation, added that this opportunity would allow him to continue his long running fight against the U.S. Securities and Exchange Commission’s (SEC) overreach.

In a recent post on X, Deaton, also a former prosecutor, argued that many in the crypto space do not fully grasp the significance of Chokepoint 2.0. He cites Custodia Bank’s case against the U.S. Federal Reserve, which he describes as the “most important” to date in demonstrating how unelected government officials abuse their positions to throttle lawful crypto businesses.

Deaton, who lost to Democrat Elizabeth Warren in the Massachusetts senatorial race, argues that if this practice continues unchecked, non-crypto businesses could at some point find themselves on the receiving end of the same abuse.

“If these actions go unchallenged, it creates a dangerous precedent where regulatory bodies can quietly suppress entire industries they disfavor, stifling innovation, competition, and economic opportunity,” the former prosecutor said.

Comments by the former assistant attorney came a day after Coinbase claimed to have obtained unredacted Federal Deposit Insurance Corporation (FDIC) letters proving that regulators were coordinating efforts to exclude crypto entities from the banking system. Paul Grewal, Coinbase’s chief legal officer, said the letters show there was a “coordinated effort to stop a wide variety of crypto activity — everything from basic BTC transactions to more complex offerings.”

Meanwhile, Deaton asserts in his X post that Chokepoint 2.0 not only threatens law-abiding businesses but also the United States’ position as a global leader in innovation. He argues that the future of the U.S. economy depends “on fair access to financial infrastructure, not selective enforcement driven by ideology.”

By instituting an investigation into Chokepoint 2.0, the U.S. will expose a network of decision-makers abusing their positions to “suppress lawful industries they disfavor.”

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