Coinbase has claimed vindication in its long-standing belief that the U.S. government has been secretly waging a war on cryptocurrency for years. Newly disclosed correspondences between the Federal Deposit Insurance Corporation (FDIC) and member banks revealed that the FDIC instructed banks to pause all crypto asset-related activities until proper regulation was determined. While the letters did not mention debanking crypto-involved customers, it is suggested that banks may have frozen the accounts of crypto companies and executives to ensure compliance with the FDIC's instructions. Coinbase and other industry leaders continue to seek evidence linking debanking to U.S. government directives.



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