Coinbase, a major cryptocurrency exchange, is stepping up its fight with US regulators by demanding more information about how they’re handling crypto.
Coinbase Wants to Know How Regulators Are Treating Crypto
Coinbase’s legal team has filed two new Freedom of Information Act (FOIA) requests, aiming to get a clearer picture of how regulators are approaching digital assets.
- Request #1: This request seeks documents related to the restrictions placed on crypto deposits by the Federal Deposit Insurance Corporation (FDIC) and other banking regulators.
- Request #2: This request aims to get a log of how these agencies handle other FOIA requests.
Shining a Light on Crypto Regulations
These requests are part of Coinbase’s ongoing efforts to understand how US regulators are applying securities laws to crypto. They’re also seeking information about how regulators are dealing with crypto deposits at banks.
Coinbase Is Frustrated with the SEC
Coinbase has already filed a FOIA request with the Securities and Exchange Commission (SEC) but has been met with minimal response. The SEC has only provided three heavily redacted pages, claiming other records are being withheld under a law enforcement exemption.
Coinbase is now seeking a court order to force the SEC to produce internal records related to how they apply securities laws to crypto. This includes documents related to Ethereum’s transition to a proof-of-stake system and investigations into Enigma MPC and Zachary Coburn.
Coinbase is determined to get answers from US regulators. They believe that transparency is crucial for the future of crypto in the US. /p>
