#FDIC Accused of Hiding Cryptocurrency Files#
Hot Topic Overview
Overview
The Federal Deposit Insurance Corporation (FDIC) has been accused of omitting multiple cryptocurrency-related “cease and desist” letters sent to banks in a Freedom of Information Act (FOIA) lawsuit backed by Coinbase. Coinbase 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 time period. A report submitted to the federal court in Washington, D.C., by History Associates on January 17, states that the FDIC “may have omitted other cease and desist letters” and plans to bring new charges in its lawsuit. Public reports allege that the FDIC has “systematically thwarted FOIA requests,” leading to the withholding of at least 150 related documents. In its January 17 status report, the FDIC stated that the company had complied with FOIA requirements, submitted all relevant documents, and conducted a necessary search for correspondence shared with the Office of Inspector General between March 2022 and May 2023.
Ace Hot Topic Analysis
Analysis
The Federal Deposit Insurance Corporation (FDIC) has been accused of omitting multiple cryptocurrency-related "cease and desist" letters sent to banks in a Freedom of Information Act (FOIA) lawsuit supported by Coinbase. The FDIC reportedly claimed in its January 17th status report that it had complied with FOIA requirements, submitted all relevant documents, and conducted a necessary search of correspondence shared with the Office of Inspector General from March 2022 to May 2023. However, History Associates, in a report filed to the U.S. District Court for the District of Columbia on January 17th, noted that the FDIC "may have omitted additional cease and desist letters" and plans to bring forth new allegations in its lawsuit. Public whistleblowers have alleged that the FDIC "systematically hinders FOIA requests," resulting in the non-disclosure of at least 150 relevant documents. Coinbase Chief Legal Officer Paul Grewal accused the FDIC of playing "word games" after the agency claimed it only searched for cease-and-desist letters within a specific timeframe. These accusations suggest that the FDIC may be concealing documents related to cryptocurrency, raising questions about the agency's transparency and accountability.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
FDIC was accused of omitting more cryptocurrency-related 'cease and desist letters' in a FOIA lawsuit supported by Coinbase.
FDIC may have systematically stonewalled FOIA requests, resulting in the non-disclosure of at least 150 relevant documents.
FDIC claims it has complied with FOIA requests, has provided all relevant documents, and has conducted the necessary search for letters shared with the Office of the Inspector General between March 2022 and May 2023.
Coinbase Chief Legal Officer Paul Grewal accused the FDIC of playing 'word games' after the agency said it only searched for cease and desist letters within a specific time period.