Coinbase Legal Officer's Allegations Against FDIC

user avatar

by Giorgi Kostiuk

2 years ago

On January 6, 2025, Coinbase’s CLO Paul Grewal addressed the ongoing case against the FDIC, highlighting 'pause letters' urging banks to halt services for crypto clients.

Context of the Case Against FDIC

The FDIC admitted to sending letters to banks requesting them to suspend services for crypto clients. These actions have raised concerns about transparency and the legality of the FDIC's moves.

Arguments from Coinbase's Legal Officer

Grewal claims the FDIC is using a FOIA exemption to withhold crucial information, attempting to cover up 'Operation Choke Point 2.0'.

Grewal pointed out the inconsistency in the redactions, suggesting they aim to conceal 'Operation Choke Point 2.0'.

Implications for the Crypto Sector

Experts believe FDIC's actions push banks out of the crypto space, potentially harming the industry and other groups. John E. Deaton has called for an investigation into these actions in light of future crypto regulations.

The dispute between Coinbase and the FDIC raises significant questions about the future of financial regulation and the place of cryptocurrencies in global financial systems.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Microsoft Opens Public Feedback for AI Code of Conduct

chest

Microsoft is inviting public feedback on its draft Code of Conduct for AI models until late October, aiming to refine guidelines before finalizing them for 2027.

user avatarLuis Flores

Microsoft AI Releases Draft Code of Conduct for AI Models

chest

Microsoft AI has published a draft Code of Conduct outlining the expected behavior and limitations of its AI models, inviting public feedback for six weeks.

user avatarMiguel Rodriguez

Clichmont's Infrastructure Plan: Control Through GPUs.

chest

Clichmont emphasizes the importance of energy and infrastructure in AI compute, stating that owning data centers is more strategic than renting GPUs.

user avatarArif Mukhtar

Clichmont's Unique Approach to AI Infrastructure

chest

Clichmont CEO Alexis Cathalifaud discusses the company's strategy of owning data centers rather than renting GPU capacity.

user avatarMaria Gutierrez

MEXC Launches Campaigns to Enhance Trading Experience

chest

MEXC launched three flagship campaigns in August 2026 to enhance trading participation, attracting over 174,000 registrations with a total prize pool of 1 million USDT.

user avatarDavid Robinson

MEXC Reports Significant Growth in Trading Activity for August 2026

chest

MEXC has reported a significant increase in trading activity for August 2026, with a 21% rise in users trading new tokens and a 13% increase in TradFi Spot trading volume.

user avatarAndrew Smith

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.