#Coinbase Accuses FDIC of Withholding Evidence#
Hot Topic Overview
Overview
Coinbase is suing the Federal Deposit Insurance Corporation (FDIC), alleging it withheld multiple cryptocurrency-related "cease and desist" letters sent to banks during Coinbase's Freedom of Information Act (FOIA) lawsuit. Coinbase Chief Legal Officer Paul Grewal accused the FDIC of playing "word games" after the agency said it had only searched for cease and desist letters within a specific time frame. The FDIC allegedly omitted at least 150 relevant documents and has been accused of "systematically obstructing the FOIA request." The FDIC claims it has complied with FOIA requirements and submitted all relevant documents.
Ace Hot Topic Analysis
Analysis
There have been new developments in the lawsuit Coinbase filed against the FDIC. Coinbase accuses the FDIC of withholding more “cease and desist” letters related to cryptocurrency in its supported Freedom of Information Act (FOIA) lawsuit. The FDIC argues it has complied with FOIA requirements and submitted all relevant documents, but a report by History Associates suggests the FDIC may have omitted other cease and desist letters and plans to file new charges in its lawsuit. There are public reports alleging that the FDIC “systematically obstructs FOIA requests,” resulting in the failure to turn over at least 150 related documents. Coinbase Chief Legal Officer Paul Grewal accuses the FDIC of playing “word games” because the FDIC claims it only searched for cease and desist letters within a specific time frame. This incident has raised questions about whether the FDIC has issues with transparency and openness in information, and it has also intensified tensions between the cryptocurrency industry and regulators.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
FDIC omitted more 'cease and desist' letters related to cryptocurrency in its FOIA lawsuit against Coinbase.
The FDIC may be systematically obstructing FOIA requests, resulting in at least 150 relevant documents not being turned over.
The FDIC argued that it has complied with FOIA requirements, submitted all relevant documents, and conducted necessary searches of letters shared with its Office of Inspector General from March 2022 to May 2023.
Coinbase accused the FDIC of playing 'word games' after the agency said it only searched for cease and desist letters within a specific time frame.