The document shows that U.S. regulatory authorities had once asked banks to stop encryption business

According to information obtained by a research firm hired by Coinbase Inc. (COIN), in 2022, the Federal Deposit Insurance Corp. (FDIC) suspended or blocked a large number of crypto banking activities of US banks. History Associates Inc., the helper hired by Coinbase, took FDIC and the U.S. Securities and Exchange Commission to court in June and ultimately gained access to some internal communications of FDIC. A large number of redacted documents released on Friday show that banking regulators have taken severe measures against lenders who provide or consider providing products and services in the digital asset field.