Coinbase sues SEC, FDIC over FOIA requests, says federal regulators trying to cut out crypto
Powered by @unfolded- Coinbase has filed lawsuits against the U.S. Securities and Exchange Commission (SEC) and the Federal Deposit Insurance Corporation (FDIC) for not complying with Freedom of Information Act (FOIA) requests.
- The FOIA requests sent to the SEC asked for information about how the agency views ether, as well as information on two closed investigations involving Zachary Coburn and Enigma MPC.
- Coinbase accuses the federal financial regulators of trying to cut off the crypto industry from the banking sector and seeks to bring to light the agencies' role in this.
- Coinbase also accuses the FDIC of issuing "pause letters" as part of a scheme to stop crypto-related activities altogether and cut off digital-asset firms from necessary banking services.