• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Coinbase Sheds Light on FDIC's Role in Cryptocurrency Regulation

user avatar

by Giorgi Kostiuk

a year ago

American cryptocurrency exchange Coinbase received undisclosed documents from the Federal Deposit Insurance Corporation (FDIC) as part of its investigation into Operation Chokepoint 2.0.

Obtaining Documents from FDIC

Coinbase managed to obtain documents from the FDIC thanks to a court order. These previously undisclosed documents are now available for public review. According to Coinbase's General Counsel Paul Grewal, the documents highlight coordinated efforts to block cryptocurrency transactions.

Contents of the Documents

The documents, released following a judge's order, shed light on FDIC's actions. They describe a coordinated attempt to restrict cryptocurrency transactions, ranging from basic Bitcoin operations to more complex offerings.

We ultimately received the undisclosed OCP 2.0 letters from the FDIC. A court order was required, but you can now read them for yourself. These letters demonstrate a coordinated effort to halt a broad spectrum of cryptocurrency activities.Paul Grewal

Legal Developments and Future Steps

According to Grewal, the documents detail measures undertaken under FDIC's supervision to minimize the impact of cryptocurrencies. Sharing this information aims to improve understanding of the regulatory pressures the cryptocurrency sector faces. The public release of these documents provides significant transparency and may clarify future regulations.

The publication of FDIC documents represents an important step towards transparency in the cryptocurrency sector and may influence future industry regulations.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Circle USDC Experiences Significant Redemption and Circulation Decrease

chest

Circle USDC experienced a significant decrease in circulation, redeeming $57 billion while issuing $46 billion, resulting in a net decrease of $11 billion.

user avatarAisha Farooq

Circle's Reserve Composition and Market Position

chest

Circle's reserve composition is heavily weighted toward short-term US government securities, with approximately $51 billion in overnight reverse repurchase agreements and around $146 billion held in Treasury bills with maturities under three months.

user avatarTenzin Dorje

BNB Price Prediction Shows Mixed Signals

chest

BNB's price is currently showing mixed signals with potential for both upward and downward movement.

user avatarElias Mukuru

Bank of Korea Maintains Interest Rate Amid Export Growth

chest

The Bank of Korea decided to keep the interest rate at 2.5% while monitoring economic risks.

user avatarDiego Alvarez

Fermi Hard Fork Set to Enhance BNB Network

chest

The upcoming Fermi hard fork aims to improve BNB's network efficiency and speed.

user avatarMohamed Farouk

South Korea's Exports Surpass $700 Billion for the First Time

chest

South Korea's exports reached a record $710 billion in 2025, driven primarily by semiconductor shipments.

user avatarBayarjavkhlan Ganbaatar

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.