Coinbase has alleged that the Federal Deposit Insurance Corporation (FDIC) is obstructing access to records related to Operation Chokepoint 2.0, despite court orders for disclosure. Coinbase's Chief Legal Officer, Paul Grewal, emphasized the agency's continued resistance to their efforts, stating that they cannot accept such obstruction. Coinbase has filed a motion for further discovery, including sworn testimony from FDIC officials and disclosure of denial letters from 2020 to 2024. The FDIC's actions have raised concerns about regulatory pressures on crypto firms, limiting their banking access. The controversy centers around the FDIC's handling of Freedom of Information Act requests, revealing systematic problems in their document management procedures. Internal policies indicate that the agency often withholds documents without proper consideration, undermining transparency. Recent court rulings have compelled the FDIC to provide some documents regarding their regulatory stance on crypto firms, but Coinbase is seeking a more thorough investigation into the agency's practices to reveal any potential anti-crypto agendas and ensure accountability going forward.

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