up

The FDIC is accused of omitting multiple crypto-related "cease and desist" letters in the lawsuit supported by Coinbase

ChainCatcher news, according to Cointelegraph, the Federal Deposit Insurance Corporation (FDIC) has been accused in a Coinbase-supported Freedom of Information Act (FOIA) lawsuit of omitting multiple cryptocurrency-related "suspension letters" sent to banks. A report submitted by History Associates to the federal court in Washington, D.C. on January 17 indicated that the FDIC "may have omitted other suspension letters" and plans to update the lawsuit based on this. Public reports allege that the FDIC "systematically obstructs FOIA requests," resulting in at least 150 related documents not being released. The 25 FDIC letters that have been made public suggest that financial institutions suspend cryptocurrency operations until regulatory reviews are completed, which the cryptocurrency industry views as an action to cut off banking services to related businesses ("Operation Chokepoint 2.0").Coinbase Chief Legal Officer Paul Grewal stated on January 16 that the lawsuit seeks all suspension letters confirmed by the Office of the Inspector General, but alleges that the FDIC's search was limited to the letters in the report, potentially missing others. Grewal added that when asked to correct and stop the wordplay, the FDIC claimed it would take at least a year.In a status report on January 17, the FDIC responded that it has provided all relevant documents and searched for letters shared with the Office of the Inspector General from March 2022 to May 2023, in compliance with the FOIA request. The agency stated that History Associates has no reasonable basis to believe that letters outside this scope and timeframe belong to the original FOIA request and added that these letter requests are being processed as separate FOIA requests for expedited review.
1 分钟前
ChainCatcher Building the Web3 world with innovators