Coinbase requests district court to resume legal proceedings with FDIC

According to Beincrypto, Coinbase has asked the District of Columbia Court if it can reinstate its previous lawsuit against the Federal Deposit Insurance Corporation (FDIC). Coinbase has sued the regulatory agency for Operation Choke Point 2.0 and claims that the FDIC still refuses to provide relevant information. Based on the currently available information, it is difficult to draw a conclusive conclusion. The FDIC insists that it has truthfully answered the counterparty's questions, despite past delays. According to Coinbase's lawsuit, the FDIC has not provided any new information since late February and claimed in early March that the exchange's subsequent requests were "unreasonable and beyond the scope of the investigation". On the one hand, the FDIC has been slow to disclose relevant information in the Coinbase lawsuit. On the other hand, the 'Kill Point 2.0 Action' has caused significant tension within the industry, and there is now a steadfast group working to significantly weaken the power of relevant regulatory agencies. It is difficult to make any conclusive statements before the legal battle continues. The FDIC may have two weeks to respond to Coinbase's request. The FDIC plays an important role in US financial regulation, primarily responsible for handling banking affairs. This has played a key role in the 'Kill Point 2.0 Action', hindering cooperation between banks and cryptocurrency companies. However, the institution has recently begun to shift its support towards cryptocurrencies, releasing a series of allegations and revoking multiple anti cryptocurrency regulations.