A report released by U.S. Representative French Hill accuses the Biden administration of obstructing cryptocurrency development through regulatory measures. Titled 'Choke Point 2.0,' the report alleges that the administration has fostered uncertainty in the digital asset sector by using regulatory discretion without providing clear guidelines. It criticizes the SEC's enforcement-focused strategy and banking agencies' cautionary stance on digital asset activities. Additionally, the report points out that several Trump-era regulators have reversed Biden-era policies to bolster the crypto industry.