Odaily Planet Daily reported that Coinbase Chief Legal Officer Paul Grewal said that the company has filed a motion in federal court, accusing the U.S. Federal Deposit Insurance Corporation (FDIC) of systematically obstructing the disclosure of documents related to "Operation Chokepoint 2.0".

Court documents show that despite being ordered to cooperate four times, the FDIC has refused to submit complete "cease and desist letters" requiring banks to suspend crypto operations between 2020 and 2024. The agency's internal policy allegedly instructs employees to invoke Section 8 of the Freedom of Information Act (FOIA) to "withhold all" relevant materials, without distinguishing between factual and analytical material.

Coinbase noted that the FDIC's search was limited to documents submitted to the Office of the Inspector General, resulting in the omission of numerous key records. The agency acknowledged in a January hearing that it lacked a document retention mechanism for FOIA lawsuits. The legal action has forced the FDIC to release hundreds of pages of documents, revealing widespread regulatory resistance banks face in advancing crypto businesses.

Coinbase said that as the US government shifts to pro-crypto policies, tracking these historical actions will help prevent similar interventions from happening again. (Decrypt)