Coinbase Chief Legal Officer Paul Grewal posted on X: "We have finally received the unredacted OCP 2.0 letter issued by the FDIC. This is a court-ordered release, but you can now read it below. It shows a coordinated effort to stifle 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, yet miraculously found two additional pause letters during this search. Every time we take action, new issues emerge, making it hard to believe their sincerity. The new Congress should initiate hearings on all these matters immediately."
Ripple Chief Legal Officer Stuart Alderoty stated: "Well done. As a former bank GC, these letters convey one message: close all crypto-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 aim to create an impact on banks."