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Operation Chokepoint: Coinbase Secures Unredacted FDIC Files

Weeks after a Court Order, Coinbase Exchange has received new FDIC files to bolster its Operation Chokepoint probe
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Operation Chokepoint: Coinbase Secures Unredacted FDIC Files

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.

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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.

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.

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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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Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on X, Linkedin

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Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
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