The Federal Deposit Insurance Corporation unexpectedly released a trove of documents on Wednesday detailing how the agency regulated banks’ approach to crypto.
Travis Hill, the FDICS’s acting chairman, said the agency is taking steps to enhance transparency as lawmakers move to investigate a plot dubbed “Operation Chokepoint 2.0.”
“The documents that we are releasing today show that requests from these banks were almost universally met with resistance,” he said in a press release. “These and other actions sent the message to banks that it would be extraordinarily difficult—if not impossible—to move forward.”
In December the FDIC published 24 letters detailing the agency’s push to delay or prevent American banks from engaging in crypto-related activities. But this 790-page batch of documents appears to contain correspondence covering banks’ ability to serve crypto firms as well.
In one letter, an FDIC appointee acknowledged that a bank’s board of directors had chosen ...
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