#Coinbase Accuses FDIC of Withholding Information#

Coinbase has accused the FDIC of withholding more "cease and desist" letters related to cryptocurrency in a Freedom of Information Act lawsuit it is supporting. The FDIC is alleged to have played "word games" in its search, only looking for cease and desist letters within a specific time frame and potentially leaving out other relevant documents. History Associates, in a report filed with the federal court in Washington D.C., noted that the FDIC likely missed other cease and desist letters and plans to file new charges in its lawsuit. Public complaints allege that the FDIC systematically obstructed FOIA requests, leading to the non-disclosure of at least 150 relevant documents. The FDIC claims it has complied with FOIA requirements, has submitted all relevant documents, and has conducted the necessary search for letters shared with the Office of Inspector General from March 2022 to May 2023. Coinbase Chief Legal Officer Paul Grewal accused the FDIC of playing "word games" and demanded the agency provide more information. This incident has again raised concerns about the transparency and fairness of the FDIC's cryptocurrency regulation.