The US House Committee on Financial Services has planned a hearing on “Operation Choke Point 2.0”, an alleged attempt by Biden’s government rules to suppress the crypto industry.
Coinbase Chief Legal Officer Paul Grewal and Fred Thiel, the CEO of Crypto -Mijnbouwgigant Mara, will speak during the hearing, which is planned for this Thursday 6 February.
Other witnesses are Austin Campbell, a deputy professor at the Stern School of Business of New York University and Shayna Olesiuk, the director of the bank policy at the non-profit Better Markets.
Grewal recently argued that documents secured by the Exchange show that the Federal Deposit Insurance Corporation (FDIC) tried to sabotage a wide range of activities in the crypto industry. Coinbase has submitted Freedom of Information Act requests with regard to the letters from the FDIC to banks about crypto services.
Grewal says that he has clearly seen evidence of a intentional effort from the government to suppress the growth of crypto in the US.
Last month the US Senator Cynthia Lummis (R-WY) said whistleblowers claimed that the FDIC materials destroyed materials in the last days of the Biden administration.
According to Lummis, the whistleblowers claimed that FDIC officials closely monitored access to the materials, so that they did not reach the Senate. They also accused the management of threatening some employees with legal steps to prevent them from speaking out.
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