Coinbase Chief Legal Officer: We have received the unredacted version of the OCP 2.0 letter from the FDIC, and the new Congress should immediately start hearings

Paul Grewal, chief legal officer of Coinbase, said in a post on X: "We have finally received the unabridged version of the OCP 2.0 letter from the FDIC (Federal Deposit Insurance Corporation). This is a court order, but you can read them below now. This shows a coordinated move to stop a variety of crypto activities, from basic BTC transactions to more complex products. Note that the FDIC had previously stated that it had complied with earlier court orders, but in this search, two other suspension letters were magically found. Every time we act, we always find new problems, and it is difficult to believe their sincerity. The new Congress should immediately launch hearings on all these issues." Ripple Chief Legal Officer Stuart Alderoty said: "Well done. As a former bank GC, these letters convey a message: shut down everything related to cryptocurrency as soon as possible-not just the products and services mentioned. Writing directly to the board of directors is a rare and prudent approach. These letters are designed to give banks a shock."