#Coinbase vs. FDIC#
Hot Topic Overview
Overview
There are new developments in Coinbase's lawsuit against the Federal Deposit Insurance Corporation (FDIC). Coinbase Chief Legal Officer Paul Grewal accused the FDIC of playing "word games" in a Freedom of Information Act (FOIA) lawsuit, after the agency said it only searched for cease-and-desist letters within a specific time frame. History Associates, in a report filed with the court, indicated that the FDIC may have missed other cease-and-desist letters and plans to make new allegations. There have been public reports that the FDIC is systematically obstructing FOIA requests, leading to the non-disclosure of at least 150 related documents. The FDIC, however, said it has complied with FOIA requirements and has provided all relevant documents. The lawsuit is ongoing and the final outcome remains to be seen.
Ace Hot Topic Analysis
Analysis
In the Coinbase lawsuit against the FDIC, the FDIC is accused of omitting more "cease and desist" letters related to cryptocurrency in a Freedom of Information Act (FOIA) lawsuit. Coinbase Chief Legal Officer Paul Grewal accused the FDIC of playing "word games" because the agency claimed it only searched for cease and desist letters within a specific timeframe. History Associates, in a report filed with the federal court in Washington D.C., indicated that the FDIC may have omitted other cease and desist letters, and plans to make new accusations in its lawsuit. There have been public reports alleging that the FDIC systematically thwarted FOIA requests, resulting in the withholding of at least 150 related documents. The FDIC in its situation report stated that the company has complied with FOIA requirements, submitted all relevant documents, and conducted the necessary search for letters shared with the Office of Inspector General from March 2022 to May 2023. Currently, Coinbase maintains that the FDIC has omitted more cease and desist letters related to cryptocurrency, and plans to continue pursuing the matter.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
FDIC has omitted more crypto-related 'cease and desist' letters in a FOIA lawsuit supported by Coinbase.
FDIC may have systematically obstructed FOIA requests, leading to the non-disclosure of at least 150 related documents.
FDIC argues that it has complied with FOIA requirements and submitted all relevant documents.
Coinbase accuses FDIC of playing 'word games' and questions the completeness of its search scope.