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Highlights
- Coinbase FOIA files have been released by with FDIC with no redactions
- The documents proves FDIC truly attempted to choke crypto firms
- Growing calls from industry leaders to probe the Operation Chokepoint claims
American crypto exchange Coinbase Global Inc has secured the unredacted files from the Federal Deposits Insurance Commission (FDIC) in its ongoing probe into its role in the Operation Chokepoint 2.0 agenda. According to the update from Coinbase CLO Paul Grewal, it took the FDIC a Court order to release the documents. These unredacted documents are now available to members of the public.
Coinbase Wins the FDIC At Last
In his update on X, Paul Grewal pointed out that the new documents proves the FDIC oversaw a cordinated effort to cripple crypto transactions. The legal veteran said this ranges from basic Bitcoin transactions to more complex offerings.
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
This unredacted files comes after the FDIC released an initial stack of documents in December but with blotted details. A Judge ruled days later, mandating the FDIC to release unredacted version, a big win for Coinbase in the Freedom of Information Act (FOIA) case.
As part of the latest update, Paul Grewal said the FDIC magically found two additional letters that shows its instruction for banks to pause services to crypto firms. Initially, the commission claimed it had no such letters in its custody. Just like the former files, this unredacted documents shows how deep the Operation Chokepoint 2.0 agenda spread in the banking sector.
Calls for Operation Chokepoint Probe
Meanwhile, the entire concept of these stringent regulation hinges on authorities denying banking services to crypto entities. Notably, Brian Morgenstern, a Riot Platforms Public Policy Executive recently revealed how the US energy regulators strained Bitcoin miners.
In light of these, Paul Grewal has joined forces with those calling for the probe of the Operation Chokepoint agenda. Expectations now rests on the incoming Donald Trump administration and his nominated executives.
Notably, Crypto Czar David Sacks has broken silence on the need to investigate the Operation Chokepoint agenda of past administration. Lawmakers like Rep French Hill have also lend support to this plan.
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