According to ChainCatcher, Coinbase Chief Legal Officer Paul Grewal posted on X: “We have finally received the unredacted OCP 2.0 letter from the FDIC (Federal Deposit Insurance Corporation). This is a court-ordered disclosure, but you can read it below now. It shows a coordinated effort aimed at blocking various crypto activities, from basic BTC transactions to more complex products.
Please note that the FDIC previously stated it had complied with an earlier court order, but magically found two additional 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 Chief Legal Officer Stuart Alderoty stated: “Well done. As a former bank GC, these letters convey a message: quickly shut down all content related to cryptocurrencies— not just the mentioned products and services. Writing directly to the board is a rare and prudent practice. These letters are intended to send shockwaves to the banks.”
