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 <li><strong>Political interests pose a distraction for big governments in terms of regulation.</strong></li>
 <li><strong>Coinbase CLO exposed some findings the crypto exchange has made against the FDIC.</strong></li>
 <li><strong>Coinbase has received information about letters the FDIC sent to financial institutions.</strong></li>
</ul>
<p>Coinbase founder Brian Armstrong believes large governments often become overly influenced by politics and operate outside the law. He argues that smaller governments are better equipped to handle regulatory challenges because they face fewer political pressures.</p>
<p>Armstrong made these remarks on X after Coinbase Chief Legal Officer (CLO) Paul Grewal revealed findings from a Freedom of Information Act (FOIA) request the exchange made to the Federal Deposit Insurance Corporation (FDIC).</p>
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   <p lang="en" dir="ltr">This is part of the problem with big government – it tends to get captured politically and start painting outside the bounds of the law<br><br>If you have small government, there is nothing to capture. <a href="https://t.co/ceqXP0i1Hy" target="_blank" rel="noopener noreferrer nofollow">https://t.co/ceqXP0i1Hy</a></p>— Brian Armstrong (@brian_armstrong) <a href="https://twitter.com/brian_armstrong/status/1853531880865362163?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">November 4, 2024</a>
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<p>Grewal explained that the FDIC provided information about letters it sent to financial institutions as part of Operation Choke Point 2.0. He characterized …</p>
<p>The post <a href="https://coinedition.com/coinbase-accuses-fdic-of-secretly-stifling-crypto-banking/" rel="noopener noreferrer nofollow">Coinbase Accuses FDIC of Secretly Stifling Crypto Banking</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.</p>

Coinbase Accuses FDIC of Secretly Stifling Crypto Banking

Coin Edition

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