#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 a series of improper tactics in an operation dubbed "Operation Chokepoint 2.0," including labeling documents as attorney-client privileged, conducting incomplete searches within regional systems, and hiding files on collaboration platforms to circumvent Freedom of Information Act disclosure requirements. Allegedly, around 150 key documents have been withheld. Furthermore, the FDIC has been accused of conducting social media investigations into prominent figures in the cryptocurrency industry, including Coinbase Chief Legal Officer Paul Grewal and WSPN CEO Austin Campbell, to assess whether they pose a threat to the FDIC. This incident has sparked concerns about the FDIC's regulatory actions, questioning whether there are issues with transparency and fairness. Coinbase and other institutions are actively seeking to release documents through Freedom of Information Act requests, revealing the FDIC's efforts to hinder institutions from adopting cryptocurrencies. This event has also reignited discussions about transparency and information disclosure by regulators in the digital asset space, and how to balance regulatory needs with industry development.