Coinbase Criticizes FDIC Over Cooperation Refusal

Coinbase Criticizes FDIC for Lack of Cooperation in Operation Choke Point 2.0

• Coinbase claims the FDIC has refused to cooperate in the investigation of Operation Choke Point 2.0.
• Coinbase CLO Paul Grewal criticized the FDIC for resisting transparency efforts related to this operation.
• The operation allegedly aimed to debank crypto companies, affecting their liquidity.
• The FDIC has reportedly withheld key information related to its Freedom of Information Act practices.
• The OCC is reversing previous guidance that restricted banks from engaging with cryptocurrencies.

Coinbase’s Paul Grewal accused the FDIC of withholding information crucial to understanding Operation Choke Point 2.0, while the OCC is easing restrictions on banks dealing with cryptocurrencies.