Coinbase Criticizes FDIC Over FOIA Response

Coinbase Criticizes FDIC and SEC Over FOIA Responses

• The FDIC responded to Coinbase’s FOIA request, but Coinbase deemed it insufficient.
• Coinbase seeks information on the FDIC’s role in Operation Choke Point 2.0 and the debanking of crypto companies.
• Grewal criticized the FDIC for withholding information and providing heavily redacted documents.
• Coinbase also filed a FOIA request against the SEC regarding enforcement costs against cryptocurrency companies.
• The SEC’s actions against major industry players could cost millions, with third-party contractor reliance increasing expenses.

Coinbase is challenging both the FDIC and SEC over their responses to FOIA requests, focusing on transparency regarding regulatory actions impacting cryptocurrency companies.