CandleFocus Coinbase files FOIA requests targeting FDIC over crypto banking restrictions
2024-10-21
Author: Content Editor
Coinbase has filed two new Freedom of Information Act (FOIA) requests to seek regulatory clarity for the cryptocurrency industry in the US. The first request is aimed at clarifying a 15% deposit cap allegedly imposed on digital asset companies by the Federal Deposit Insurance Corporation (FDIC). The second request seeks to understand how regulatory agencies have handled FOIA requests and requests FDIC and Office of the Comptroller of the Currency (OCC) FOIA logs. Coinbase aims to track patterns in regulators' responses to inquiries and identify trends related to the management of crypto-related information. These requests are separate from the ones filed by Coinbase in July 2023, which sought clarification on the Securities and Exchange Commission's (SEC) enforcement actions against crypto firms. Coinbase has also filed a motion for partial summary judgment in its lawsuit against the SEC, seeking the release of internal documents related to the agency's enforcement strategies toward the crypto industry.
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