Coinbase Legal Head Accuses FDIC of Obstructing Crypto Debanking Documents

Paul Grewal, Chief Legal Officer at Coinbase, has stated that the Federal Deposit Insurance Corporation (FDIC) is continuing to obstruct the release of documents pertaining to the so-called “debanking” of cryptocurrency firms. These accusations arise amid growing scrutiny of the agency’s dealings with the cryptocurrency industry, with some alleging that the FDIC is exerting undue pressure on banks to sever ties with crypto businesses. Grewal asserts that the FDIC is refusing to disclose crucial information that could shed light on the extent of its intervention in banking matters related to cryptocurrencies. This issue raises questions about transparency and fairness in financial regulation, highlighting the ongoing tension between the crypto industry and traditional regulatory bodies.