The FDIC has told banks to refrain from providing crypto services in over 20 cases, Coinbase finds
Coinbase chief legal officer Paul Grewal said that the crypto exchange has discovered over 20 instances where the Federal Deposit Insurance Corporation (FDIC) asked banks to “pause” or “refrain from providing” or “not proceed” with crypto-related banking services.
In an X post, Grewal wrote:
“In short, the contents are a shameful example of a government agency trying to cut off financial access to law-abiding American companies.”
The discovery was made after the FDIC shared 23 documents with Coinbase in accordance with its two Freedom of Information Act (FOIA) requests. Coinbase had requested access to letters the FDIC sent to banks to pause crypto services.
The FDIC is yet to release the actual letters, but the shared…
