Coinbase Global Inc has obtained access to unredacted files from the Federal Deposits Insurance Commission (FDIC) amid its investigation into their role in Operation Chokepoint 2.0. This followed a court order.
Document Context
The unredacted documents were made publicly available by FDIC following a court ruling. These documents indicate a coordinated effort to hinder crypto activities, ranging from basic Bitcoin transactions to more complex offerings.
Paul Grewal's Commentary
Coinbase CEO Paul Grewal noted that the documents reveal a coordinated effort by FDIC to undermine crypto transactions. He expressed skepticism about FDIC's actions, noting that it's hard to believe in their 'good faith' as their actions appear inconsistent with each new discovery.
Previous Developments
Previously, in December, the FDIC released a set of documents relating to Coinbase's investigation into Operation Chokepoint 2.0, but they were redacted, with key details removed. A judge ruled that the FDIC must release unredacted versions of these documents, marking a significant victory for Coinbase in the Freedom of Information Act case.
The documents acquired by Coinbase cast doubt on FDIC's earlier compliance claims and underscore the need for further Congressional investigation.
