American cryptocurrency exchange Coinbase Global Inc has obtained undisclosed documents from the Federal Deposit Insurance Corporation (FDIC) as part of its investigation into Operation Chokepoint 2.0. According to Coinbase’s General Counsel Paul Grewal, the release of these documents required a court order from the FDIC. The previously undisclosed documents are now available to the public.
Documents from the FDIC
Following the FDIC’s release of redacted documents in December, a judge ordered the FDIC to publish the unredacted versions within days. This marked a significant victory for Coinbase in its Freedom of Information Act (FOIA) lawsuit.
In an update on the X platform, Grewal stated that the new documents reveal the FDIC’s coordinated effort to obstruct cryptocurrency transactions. He emphasized that this effort encompasses a wide range of activities, from basic Bitcoin 
$98,216 transactions 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 below. These letters demonstrate a coordinated effort to halt a broad spectrum of cryptocurrency activities, from basic BTC transactions to more complex offerings.
— Paul Grewal
Legal Developments and Future Steps
According to Grewal, these documents detail measures taken under the FDIC’s prior oversight and restrictions on cryptocurrencies. With the sharing of this information, Coinbase aims to better understand the regulatory pressures facing the cryptocurrency sector.
These developments may reopen discussions about the position of cryptocurrencies within the financial sector and the approaches of regulatory bodies in this area. The public availability of these documents provides significant transparency for the industry and may shed light on future regulations.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
