#FDIC Concealed Documents Suppressing the Crypto Industry#

Recently, the U.S. Federal Deposit Insurance Corporation (FDIC) has been accused of deliberately concealing documents related to its crackdown on the cryptocurrency industry, raising concerns about the agency's transparency and regulatory practices. According to multiple insiders, the FDIC has employed various tactics to circumvent disclosure requirements under the Freedom of Information Act (FOIA) in its "Operation Chokepoint 2.0," including labeling documents as attorney-client privileged, conducting incomplete searches within 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, to assess whether they pose a threat to the FDIC. This incident has sparked questions about the FDIC's regulatory practices and ignited discussions about the transparency of regulatory actions. Institutions like Coinbase have been actively seeking the release of documents through FOIA requests, revealing the FDIC's efforts to hinder the adoption of cryptocurrencies. This event also underscores the importance of transparency and fairness in the digital asset space for regulatory agencies, as well as the need for strict enforcement of the Freedom of Information Act.