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coinpedia 2025-01-03 17:57:53

Just In: Coinbase Obtains Unredacted FDIC Documents on Operation Chokepoint 2.0

Just In: Coinbase Obtains Unredacted FDIC Documents on Operation Chokepoint 2.0

The post Just In: Coinbase Obtains Unredacted FDIC Documents on Operation Chokepoint 2.0 appeared first on Coinpedia Fintech News In a latest development, Coinbase Global Inc has obtained the unredacted files from the Federal Deposits Insurance Commission (FDIC) in its ongoing investigation into its role in the Operation Chokepoint 2.0 agenda. Paul Grewal, the Coinbase CLO has highlighted in a recent X post that it took the FDIC a Court order to release the documents. These unredacted documents are now available to members of the public. We finally got the unredacted OCP 2.0 letters from @FDICgov . It took a Court order but you can now read them for yourself below. They show a coordinated effort to stop a wide variety of crypto activity — everything from basic BTC transactions to more complex offerings. 1/3 — paulgrewal.eth (@iampaulgrewal) January 3, 2025 “We finally got the unredacted OCP 2.0 letters from FDICgov. It took a Court order but you can now read them for yourself below. They show a coordinated effort to stop a wide variety of crypto activity- everything from basic BTC transactions to more complex offerings,” he noted. He remarked that the documents prove the FDIC oversaw a coordinated effort to cripple crypto transactions. Grewal expressed skepticism about the FDIC’s actions as he noted that while the FDIC previously claimed it had fully complied with a court order, now, after further review, it “magically” found two more pause letters. Credibility In Question He noted that it is hard to believe in their ‘good faith’ as their actions seem inconsistent and their credibility is undermined with each new discovery. He underscored that the new Congress should launch hearings on all this without delay, suggesting a thorough investigation into the matter. Previously, in December, the FDIC released a set of documents related to Coinbase’s investigation into Operation Chokepoint 2.0, but they were redacted, with key details removed. Shortly after, a judge ruled that the FDIC must release the unredacted versions of these documents, which was a significant victory for Coinbase in the Freedom of Information Act (FOIA) case. Crypto Czar To Look Into The Matter After Trump’s victory, discussions regarding this operation, which involved attempts to cripple the crypto industry by preventing access to liquidity, have been rising. David Sacks, the newly appointed crypto czar, has noticed the surge in complaints about Operation Choke Point 2.0, underscoring the need to investigate the Operation Chokepoint agenda. Earlier this week, Rep. French Hill claimed that the next Congress has the authority to ‘halt, reverse, and investigate Operation Chokepoint 2.0.’ It will be intriguing to see how David Sacks tackles the investigation in Operation Choke Point 2.0.

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