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

Solayer Pay Launches Direct Stablecoin Deposits for Enhanced User Experience

Solayer Pay has launched a feature allowing direct stablecoin deposits from five major blockchain networks, simplifying the funding process for users.

user avatarAyman Ben Youssef

CMCC Global Introduces Tokenized Fund Strategies

CMCC Global is introducing two fund strategies as tokenized securities through Tether's Hadron infrastructure and Bitfinex Securities under El Salvador's regulations.

user avatarTando Nkube

Senator Blumenthal Investigates Tether's Payments to Consultancy

Senator Blumenthal investigates Tether's payments to consultancy Nxum over potential ethics concerns.

user avatarKofi Adjeman

Blockchain Association Pushes for Crypto Tax Legislation

The Blockchain Association advocates for bipartisan changes to cryptocurrency tax regulations, seeking a de minimis exemption for small transactions and clarity in tax reporting for digital asset users.

user avatarNguyen Van Long

Starknet Community Votes to Explore Independent Post-Quantum Layer 1 Network

The Starknet community is exploring the possibility of transforming into an independent post-quantum secure layer 1 network, with a recent poll showing strong support for research into this initiative.

user avatarSatoshi Nakamura

SoFi Introduces SOFIE Tokenized Deposit for Earning Interest

SoFi has launched a new tokenized deposit product named SOFIE, allowing consumers to earn interest on dollar balances while facilitating blockchain transfers.

user avatarJesper Sørensen

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.