FDIC releases unredacted letters urging banks to avoid Bitcoin activities
Coinbase's Chief Legal Officer, Paul Grewal, shared unredacted versions of documents related to Operation Chokepoint 2.0, obtained through a court-ordered Freedom of Information Act request. The letters reveal that the FDIC repeatedly urged banks to suspend Bitcoin and crypto-related services and activities pending further regulatory reviews.
https://www.fdic.gov/foia/history-associates-inc-v-fdic-fdics-redacted-pause-letters-january-3-2025
"We haven't regulated anything yet, so please stop what you're doing now" -Regulators
"We haven't paid for it yet, so please give it to me now" -Consumers
Why is modern finance so backwards? It's like they think they can have their cake and eat it too, **before the cake is ever baked!**
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