Coinbase Chief Legal Officer Paul Grewal posted on X: “We have finally received the unredacted OCP 2.0 letter issued by the FDIC (Federal Deposit Insurance Corporation). This is a court-ordered document, but you can now read it below. It displays a coordinated effort aimed at halting various crypto activities, from basic BTC transactions to more complex products.”
Please note that the FDIC previously stated it had complied with earlier court orders, but miraculously found two additional cease-and-desist letters during this search. Every time we act, we discover new issues, making it hard to believe in their sincerity. The new Congress should immediately commence hearings on all these matters.”
Ripple Chief Legal Officer Stuart Alderoty stated: “Well done. As a former bank GC, these letters convey a message: to shut down all cryptocurrency-related content as soon as possible—not just the mentioned products and services. Writing directly to the board is a rare and prudent approach. These letters are intended to deliver a shock to the banks.”