Coinbase's 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 release, and you can read them below. This shows a coordinated effort aimed at halting various cryptocurrency activities, from basic BTC transactions to more complex products.
Please note that the FDIC previously stated that it had complied with an earlier court order, but magically found two more suspension letters during this search. Every time we take action, we seem to uncover new issues, making it hard to believe in their sincerity. The new Congress should immediately initiate hearings on all these matters.
Ripple's Chief Legal Officer Stuart Alderoty stated: 'Well done. As a former bank GC, these letters convey one message: to close down all cryptocurrency-related content as soon as possible — not just the products and services mentioned. Writing directly to the board is a rare and prudent move. These letters are intended to send shockwaves to the banks.'