#Coinbase v. FDIC#
Hot Topic Overview
Overview
Coinbase is suing the FDIC, alleging it withheld more "cease and desist" letters related to cryptocurrency in a Coinbase-supported Freedom of Information Act (FOIA) lawsuit. The FDIC maintains it has complied with FOIA requirements, submitting all relevant documents and conducting a search of the necessary correspondence shared with the Office of Inspector General from March 2022 to May 2023. However, Coinbase Chief Legal Officer Paul Grewal accused the FDIC of playing "word games," as the agency only searched for cease-and-desist letters within that specific timeframe. A report filed by History Associates in federal court in Washington, D.C., states the FDIC "may have overlooked other cease and desist letters" and plans to bring new allegations in its suit. There have been public accusations that the FDIC "systematically thwarts FOIA requests," resulting in at least 150 relevant documents not being turned over.
Ace Hot Topic Analysis
Analysis
New allegations have emerged in Coinbase's lawsuit against the Federal Deposit Insurance Corporation (FDIC), claiming that the FDIC has omitted more "cease and desist" letters related to cryptocurrencies in a Freedom of Information Act (FOIA) lawsuit. Coinbase Chief Legal Officer Paul Grewal accused the FDIC of playing "word games" as the agency claimed to have only searched for cease and desist letters within a specific time period. History Associates, in a report filed with the US District Court for the District of Columbia, suggested that the FDIC may have missed other cease and desist letters and planned to raise new allegations in its lawsuit. Public reports suggest that the FDIC has systematically blocked FOIA requests, resulting in the non-disclosure of at least 150 relevant documents. The FDIC, in its status report, claimed that it had complied with FOIA requirements, produced all relevant documents, and conducted necessary searches for letters shared with the Office of Inspector General between March 2022 and May 2023. The incident has sparked concerns about the transparency and integrity of the FDIC's handling of FOIA requests related to cryptocurrencies, further escalating the legal dispute between Coinbase and the FDIC.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
FDIC omitted more crypto-related 'cease and desist' letters in a FOIA lawsuit supported by Coinbase.
The FDIC may have systematically obstructed FOIA requests, resulting in the failure to produce at least 150 relevant documents.
The FDIC claims to have complied with FOIA requirements, submitting all relevant documents and conducting a necessary search of letters shared with its Office of Inspector General between March 2022 and May 2023.
Coinbase's chief legal officer, Paul Grewal, has accused the FDIC of playing 'word games' after the agency said it only searched for cease and desist letters within a specific timeframe.