{"id":68739,"date":"2025-03-15T16:56:52","date_gmt":"2025-03-15T16:56:52","guid":{"rendered":"https:\/\/freakcryptos.com\/index.php\/2025\/03\/15\/coinbase-chief-legal-officer-criticizes-the-fdics-response-to-foia-request\/"},"modified":"2025-03-15T16:56:52","modified_gmt":"2025-03-15T16:56:52","slug":"coinbase-chief-legal-officer-criticizes-the-fdics-response-to-foia-request","status":"publish","type":"post","link":"https:\/\/freakcryptos.com\/index.php\/2025\/03\/15\/coinbase-chief-legal-officer-criticizes-the-fdics-response-to-foia-request\/","title":{"rendered":"Coinbase Chief Legal Officer Criticizes The FDIC’s Response To FOIA Request"},"content":{"rendered":"


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The Federal Deposit Insurance Commission (FDIC) has filed a response to Coinbase\u2019s request for info below the Freedom of Information Act (FOIA). Coinbase says the response is way from enough because it pledges to intensify its quest for extra info.<\/p>\n

Coinbase Takes Swipes At FDIC\u2019s Response To FOIA Request<\/h2>\n

Following a FOIA request filed by US-based cryptocurrency alternate Coinbase, the FDIC has launched a raft of paperwork. However, Coinbase Chief Legal Officer Paul Grewal disclosed<\/a> that the paperwork launched by the FDIC comprise too little info.<\/p>\n

Grewal took to X (previously Twitter) to criticize the FDIC for dragging its ft to launch needed info. According to the FOIA submitting, Coinbase is searching for info into the FDIC\u2019s function in Operation Choke Point 2.0 and the \u201cdebanking of crypto companies.\u201d<\/p>\n

Grewal notes that the FDIC is withholding information<\/a>, notably relating to its conduct of due diligence to make sure that Operation Chokepoint 2.0 paperwork stay preserved. Coinbase has filed an analogous<\/p>\n

The govt disclosed that the newest batch of paperwork contained a number of redactions that exposed \u201cmuch too little, much too late.\u201d<\/p>\n

\u201cThey removed a few redactions, produced a few more documents, and promised another \u201crenewed search\u201d for different paperwork,\u201d mentioned Grewal.<\/p>\n

The US SEC Has To File Its Own Response To FOIA Requests<\/h2>\n

Coinbase has prolonged its campaign towards regulators by submitting a FOIA request against the SEC<\/a>. According to the submitting, Coinbase is searching for clarification over the price of the SEC\u2019s enforcement actions towards cryptocurrency firms.<\/p>\n

\u201cThe previous SEC spent four years attacking a lawful industry, and American taxpayers were left holding the bill,\u201d learn a press release. \u201cHow much did you end up paying? We intend to find out.\u201d<\/p>\n

Pundits say the SEC\u2019s enforcement actions towards heavy hitters within the trade may price tens of millions of {dollars}. Furthermore, a reliance on third-party contractors by the SEC within the instances are anticipated to drive up the invoice.<\/p>\n

Coinbase\u2019s request comes on the heels of high-profile case dismissals towards cryptocurrency service suppliers. The SEC\u2019s dismissal of Kraken\u2019s case<\/a> and the lawsuit towards Coinbase are thought of a monumental waste of public assets by the securities watchdog.<\/p>\n

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Aliyu Pokima <\/p>\n<\/p><\/div>\n<\/p><\/div>\n

Disclaimer: The introduced content material might embody the private opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any duty to your private monetary loss.<\/p>\n

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