people were debanked, this is a fact. it was also a viewpoint from the left-wing establishment, spearheaded by elizabeth warren, that crypto should basically be blocked from operating in the us

the biden administration was going after their political opponents in many ways (prosecutions of trump and his lawyer, targeting multiple of elon's companies & the delaware courts going after his salary, peter navarro not being allowed executive privilege, eithan heim intimidation and prosecution for whistleblowing trans surgeries on children), this is also a fact

whether they used the PEP terminology selectively, or didn't use it at all, is sort of missing the point. there's a political persecution going on the background and the debanking, which was 100% happening and should not be, was done on a purely political basis. the entire process of debanking was basically invented for political reasons so they could debank gun manufacturers. there's nothing non-political about this