#FDIC is accused of withholding information.#

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. According to a report filed in a federal court in Washington, D.C., on January 17 by History Associates, the FDIC "may have omitted other cease and desist letters" and plans to raise new allegations in its lawsuit. There have been public reports alleging that the FDIC "systematically thwarted FOIA requests," resulting in the failure to turn over at least 150 related documents. In its January 17 status report, the FDIC claims that the company has complied with FOIA requirements, submitted all relevant documents, and conducted necessary searches for letters shared with the Office of Inspector General between March 2022 and May 2023. Coinbase Chief Legal Officer Paul Grewal has accused the FDIC of playing "word games" after the agency stated that it only searched for cease and desist letters within a specific time frame. The accusations suggest that the FDIC may be concealing critical information related to cryptocurrency, raising concerns about the agency's transparency and fairness in regulating the cryptocurrency industry.