FDIC and Operation Chokepoint 2.0: Unveiling Possible Crypto Limitations

user avatar

by Giorgi Kostiuk

2 years ago


The FDIC has disclosed files suggesting potential constraints on cryptocurrency operations, sparking new discussions about their impact on the market.

Disclosure of FDIC Documents

Coinbase Global Inc., a major American cryptocurrency exchange, has obtained access to unredacted documents from the Federal Deposit Insurance Commission (FDIC) as part of its investigation into Operation Chokepoint 2.0. These files, initially withheld by the FDIC, were released following a court order and are now accessible to the public.

New Details and Letters

The unveiled documents include letters instructing banks to halt services to cryptocurrency companies. In December, redacted versions of these documents were provided, but the court later mandated the release of full files. These letters, whose existence was initially denied by the FDIC, indicate directives to limit banking services to crypto firms.

Industry Reaction and Calls for Investigation

The release of these documents has intensified calls for a deeper investigation into Operation Chokepoint’s activities. Paul Grewal and other experts emphasize the need for thorough examination of the impact on the crypto industry. Industry representatives note that such constraints negatively affect crypto companies’ operations and demand urgent attention.

The FDIC documents have spurred industry and legislative discussions about possible overregulation in the crypto sector, requiring further investigation.

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

HTX Strengthens Global Compliance and Showcases at TOKEN2049

HTX has made significant strides in global compliance initiatives while participating in TOKEN2049, a major event in the crypto industry held in Singapore.

user avatarDiego Alvarez

SEC Files Charges Against Richard Heart for Fraud

The SEC charged Richard Heart and his entities with conducting unregistered offerings of crypto asset securities.

user avatarMaria Fernandez

HTX Marks 13th Anniversary with Major Celebrations and Trading Events

HTX celebrated its 13th anniversary with major events, including the Anniversary Carnival and Trading Championship 3, highlighting its resilience in the crypto market.

user avatarKenji Takahashi

Richard Heart Arrested in Istanbul on Interpol Charges

Richard Heart, founder of Hex cryptocurrency, was detained in Istanbul under an Interpol Red Notice for aggravated tax fraud.

user avatarGustavo Mendoza

MediaMarkt Saturn Ceases Sales of Ledger Devices Amid Security Concerns

MediaMarkt Saturn has stopped selling Ledger devices due to security concerns following a customer report of a hidden implant.

user avatarRajesh Kumar

Binance Expands into Traditional Finance as Mining Pool Closes

As Binance prepares to shut down its mining pool, the exchange is expanding into traditional finance by providing access to over 7,000 US stocks and ETFs for customers outside the United States.

user avatarMiguel Rodriguez

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.