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Coinbase Wins Major Victory in FOIA Lawsuit Against FDIC
2024-11-05 04:21
Odaily News Coinbase Chief Legal Officer Paul Grewal believes that the judge in the Federal Deposit Insurance Corporation (FDIC) FOIA case ordered the agency to produce the Operation Chokepoint 2.0 suspension letter at "astonishing speed" and is very grateful for the court's action in the matter. He announced that this is an important step towards transparency by the FDIC and other regulators. Coinbase is filing lawsuits and submitting FOIA requests to force regulators to provide clear guidance. Similarly, Grewal decided to reveal how Coinbase's FOIA request showed multiple instances in which the FDIC allegedly instructed banks to stop crypto-related services. (CoinGape) Earlier news, Coinbase found that the FDIC urged banks to suspend or avoid providing crypto-related services in more than 20 cases.