Coinbase criticizes Federal Deposit Insurance Corporation for restricting cryptocurrency companies' bank access

The Federal Deposit Insurance Corporation (FDIC) recently asked banks not to offer cryptocurrency services, sparking allegations that it is restricting banking access for cryptocurrency companies.
According to reports citing multiple foreign media outlets, including Crypto Briefing, Coinbase, the largest cryptocurrency exchange in the U.S., cited documents obtained through the Freedom of Information Act (FOIA) and said, "
"The FDIC has advised banks not to provide virtual asset services over the past 20 years," the company said in a statement.
The FDIC will begin barring financial institutions from cryptocurrency projects in March 2022 due to oversight issues.
In response, Coinbase's Chief Legal Officer Paul Grewal said, "Regulators' unclear approach is making it difficult for virtual asset companies to operate.
"There are," he criticized.