Coinbase Claims FDIC is Blocking Banks from Working with Crypto Companies 👎🏻
#Coinbase ’s Chief Legal Officer, Paul Grewal, alleges that the #FDIC is pressuring banks to delay or halt services for crypto companies through “pause letters” obtained via a Freedom of Information Act request. Grewal argues that this move is part of a broader regulatory effort resembling “Operation Chokepoint 2.0,” aiming to restrict crypto industry growth by limiting access to traditional banking, rather than banning it outright.
This strategy may drive crypto firms to seek financial alternatives abroad, raising concerns about a potential “crypto cold #war ” in the U.S.
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