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BTC $66,780.71 -2.62%
ETH $1,942.39 -4.66%
BNB $624.52 -3.17%
XRP $1.42 -4.56%
SOL $81.67 -4.53%
TRX $0.2795 -0.47%
DOGE $0.0974 -3.83%
ADA $0.2735 -4.22%
BCH $435.91 -2.86%
LINK $8.64 -2.97%
HYPE $28.98 -1.81%
AAVE $122.61 -3.42%
SUI $0.9138 -6.63%
XLM $0.1605 -4.62%
ZEC $260.31 -8.86%

documents

Coinbase's legal chief: FDIC still trying to obstruct the release of documents on cryptocurrency de-banking

ChainCatcher news, according to Decrypt, Coinbase Chief Legal Officer Paul Grewal disclosed that a motion has been filed in federal court, accusing the Federal Deposit Insurance Corporation (FDIC) of systematically obstructing the disclosure of documents related to "Operation Chokepoint 2.0."Court documents show that after being ordered to comply four times, the FDIC still refused to fully submit the "cease and desist letters" requiring banks to suspend cryptocurrency-related transactions from 2020 to 2024.Internal policy documents confirm that the FDIC instructed employees to "withhold all documents" covered by the exemption under Section 8 of the Freedom of Information Act, without distinguishing between factual content and analytical materials. Coinbase accuses the agency of using an "extremely narrow interpretation," only searching for documents submitted to the Office of the Inspector General, resulting in the omission of numerous key records.During the January hearing, the FDIC admitted it had not established a record-keeping system for FOIA litigation. This legal battle has forced the FDIC to disclose hundreds of pages of documents, showing that banks "generally faced resistance" when engaging in cryptocurrency business. As the Trump administration pushed for crypto-friendly policies, Coinbase stated that investigating these "historical misconducts" is to ensure they do not happen again.
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