#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 the Freedom of Information Act's disclosure requirements in an operation dubbed "Operation Chokepoint 2.0," including labeling documents as attorney-client privileged, conducting incomplete searches in regional systems, and hiding files on collaborative platforms. It is alleged that at least 150 key documents have not been submitted. Additionally, the FDIC has been accused of conducting social media investigations into several prominent figures in the industry, including Coinbase Chief Legal Officer Paul Grewal and WSPN CEO Austin Campbell, to assess whether they pose a threat to the FDIC. This series of actions has sparked concerns about the FDIC's regulatory practices, with fears that the agency may be biased and using its power to suppress the development of the cryptocurrency industry. This incident also highlights the need for regulatory agencies to be more transparent and open when dealing with emerging technologies, ensuring that their actions comply with legal and ethical standards.