In a significant development, Coinbase Global Inc has successfully obtained unredacted files from the Federal Deposits Insurance Commission (FDIC) as part of its investigation into its involvement in Operation Chokepoint 2.0.
Paul Grewal, the Chief Legal Officer at Coinbase, recently shared on X post that it required a Court order for the FDIC to release these unredacted documents, which are now accessible to 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,”
— paulgrewal.eth (@iampaulgrewal) January 3, 2025
Grewal pointed out that the released documents reveal a concerted effort by the FDIC to hinder crypto transactions. He expressed doubt in the FDIC’s actions, highlighting the discovery of additional pause letters after the agency initially claimed full compliance with the court order. This inconsistency raises questions about the FDIC’s credibility.
Credibility In Question
Grewal emphasized the need for the new Congress to conduct hearings promptly to thoroughly investigate the matter. The lack of transparency and the FDIC’s actions cast doubt on their intentions and raise concerns about the oversight of crypto activities.
Earlier in December, the FDIC had released redacted documents related to Coinbase’s involvement in Operation Chokepoint 2.0. Following a legal ruling, the FDIC was compelled to release the unredacted versions of these documents, marking a significant win for Coinbase in their pursuit of information through the Freedom of Information Act (FOIA) case.