Coinbase has intensified its efforts to demand regulatory clarity, filing several Freedom of Information Act requests to the Federal Deposit Insurance Commission on Monday.
Coinbase has intensified its efforts to demand regulatory clarity, filing several Freedom of Information Act requests to the Federal Deposit Insurance Commission on Monday. This will be the latest salvo in the cryptocurrency exchange's ongoing campaign for clarity over the U.S. government's policy on digital asset regulation.
The exchange's requests call for documents on any reported limitations by the FDIC regarding the quantity of digital assets held by American depository institutions. A second request is targeted at information regarding the agency's processing of FOIA requests since 2022, perhaps in an effort to reveal trends in how requests for crypto-related information have been processed.
Paul Grewal, chief legal officer of Coinbase, announced the filings on social media, saying the company was committed to applying pressure on regulatory agencies. "So long as the government will not relent, neither will Coinbase," Grewal posted.
The latest move follows Coinbase filing a lawsuit against the U.S. Securities and Exchange Commission (SEC) in Washington, D.C. a few weeks ago over the latter's repeated refusals to answer FOIA requests, citing possible interference with activities of a law enforcement nature.
Timing is everything, as this request comes amid the separate case Coinbase filed against the SEC in the federal appeals court in Philadelphia. That case pressures the regulator for clear cryptocurrency-specific rules to finally address one of the oldest grievances in the industry: regulatory ambiguity.
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