FDIC Asked Banks To Pause Crypto-Asset-Related Activity, Court Documents Reveal

The post FDIC Asked Banks To Pause Crypto-Asset-Related Activity, Court Documents Reveal appeared first on Coinpedia Fintech News

In a latest X post, FOX Business journalist, Eleanor Terrett shared that Coinbase has released the 23 so-called “pause letters” they received from the FDICgov as a result of suing the agency to get access to documents relating to what the crypto industry has dubbed “Operation Chokepoint 2.0.” 

Notably, the name refers to what many players in the crypto industry allege has been a deliberate effort by regulators to stifle industries they deem untrustworthy by cutting off their access to the banking system. These communications, brought to light by Coinbase, spotlights how regulatory ambiguity has fueled tension between crypto firms and federal banking authorities.