#FDIC Concealed Documents Suppressing the Crypto Industry#

Recently, the U.S. Federal Deposit Insurance Corporation (FDIC) has come under scrutiny for allegedly deliberately concealing documents related to its crackdown on the cryptocurrency industry. According to reports, the FDIC, in an operation dubbed "Operation Chokepoint 2.0," has employed various tactics to circumvent disclosure requirements under the Freedom of Information Act, including labeling documents as attorney-client privileged, conducting incomplete searches within its regional systems, and hiding documents generated on collaborative platforms like Microsoft Teams. Insiders claim that approximately 150 key documents have not been submitted. Furthermore, the FDIC has been accused of conducting social media investigations into several prominent figures in the industry, including Coinbase Chief Legal Officer Paul Grewal. These investigations reportedly focused on whether these individuals posed a threat to the FDIC. These actions have raised concerns about the transparency and fairness of the FDIC's regulatory actions, further fueling the cryptocurrency industry's anxieties about regulatory oversight. Coinbase and other institutions are actively seeking to release documents through Freedom of Information Act requests, aiming to expose the FDIC's efforts to hinder the adoption of cryptocurrencies. This incident underscores the importance of transparency and fairness in the regulatory landscape of digital assets, sparking discussions about whether regulatory actions should be more transparent.