Coinbase submitted a FOIA request to the Federal Deposit Insurance Corporation, seeking compliance with cryptocurrency banking restrictions

ChainCatcher news, Coinbase has submitted two new Freedom of Information Act (FOIA) requests to seek clarity on U.S. cryptocurrency regulation. The new requests are directed at the Federal Deposit Insurance Corporation (FDIC) and were submitted by History Associates Incorporated on behalf of the exchange.

Coinbase's Chief Legal Officer Paul Grewal stated that one of the requests aims to clarify the alleged 15% deposit limit imposed on digital asset companies. The request claims that the 15% deposit limit is implemented on banks such as Signature Bank, Customers Bank, Cross River Bank, Western Alliance Bank, and Silvergate Bank.

The requested documents include interactions between FDIC board members, staff, deposit institutions, and officials from the Federal Reserve and the Office of the Comptroller of the Currency (OCC) since June 1, 2022.