#Coinbase Accuses FDIC of Withholding Information#
Hot Topic Overview
Overview
Coinbase has accused the U.S. Federal Deposit Insurance Corporation (FDIC) of withholding information in a Freedom of Information Act (FOIA) lawsuit supported by Coinbase. Paul Grewal, Coinbase’s Chief Legal Officer, accused the FDIC of playing “word games” after the agency said it only searched for cease and desist letters within a specific timeframe. History Associates, in a report filed with a federal court in Washington, D.C., said the FDIC “may have missed other cease and desist letters” and plans to raise new allegations in its lawsuit. Public complaints allege the FDIC “systematically obstructed FOIA requests,” leading to at least 150 relevant documents not being turned over. The FDIC claims it has complied with FOIA requirements, submitted all relevant documents, and conducted a necessary search of letters shared with the Office of Inspector General from March 2022 to May 2023.
Ace Hot Topic Analysis
Analysis
Coinbase has accused the FDIC of withholding information in its Freedom of Information Act (FOIA) lawsuit, claiming the FDIC omitted multiple cryptocurrency-related "cease and desist letters" sent to banks. Coinbase Chief Legal Officer Paul Grewal accused the FDIC of playing "word games," as the agency claimed it only searched for cease and desist letters within a specific timeframe. History Associates, in a report filed with a federal court in Washington, D.C., noted that the FDIC "may have missed other cease and desist letters" and plans to raise new allegations in its lawsuit. Public complaints have alleged that the FDIC "systematically thwarted FOIA requests," resulting in the non-disclosure of at least 150 relevant documents. The FDIC claims it has complied with FOIA requirements, submitted all relevant documents, and conducted a necessary search for letters shared with its Office of Inspector General between March 2022 and May 2023. This incident has raised questions about the FDIC's transparency in handling cryptocurrency-related information and exacerbated tensions between Coinbase and the FDIC.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
FDIC omitted more crypto-related 'cease and desist letters' in its Coinbase-backed FOIA lawsuit.
The FDIC may be systematically thwarting FOIA requests, leading to the non-disclosure of at least 150 relevant documents.
The FDIC claims it has complied with FOIA requirements, submitted all relevant documents, and conducted a necessary search of correspondence shared with the Office of the Inspector General between March 2022 and May 2023.
Coinbase accuses the FDIC of playing 'word games,' after the agency said it only searched for cease and desist letters in a specific time period.