Paul Grewal, the Chief Legal Officer of Coinbase, is scheduled to testify at a critical Senate hearing with a focus on “Operation Chokepoint 2.0.”

The Senate Banking Committee has convened this hearing to examine allegations that regulatory agencies are deliberately limiting the access of crypto firms to banking services.

Grewal, a fervent proponent of transparent crypto regulations, is anticipated to defend against what many in the industry consider to be unjust treatment.

The Focus Of Regulatory Scrutiny

The hearing takes place as concerns about regulatory activities that allegedly target cryptocurrency operations are growing.

According to previously released documents retrieved through Freedom of Information Act (FOIA) requests, the FDIC may have given banks instructions to limit their dealings with cryptocurrency-related organizations.

Paul Grewal, Chief Legal Officer at Coinbase | linkedin.com

Detractors claim that these measures are similar to the controversial “Operation Chokepoint,” a prior effort that was charged with debanking legitimate but politically unpopular companies.

I’m testifying at the @FinancialCmte’s oversight hearing looking into the past clandestine and undemocratic campaign to cut off crypto from banking. On behalf of @Coinbase, I’m proud to help shed light on the unfair treatment of our industry and thank @FinancialCmte and…

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Author: Christian Encila

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