Coinbase Sues SEC and FDIC Over Alleged FOIA Violations and Crypto Industry Exclusion

Coinbase has initiated legal action against the United States Securities and Exchange Commission (SEC) and the Federal Deposit Insurance Corporation (FDIC), according to a FoxBusiness report. The lawsuits, filed on June 27, assert that the SEC and FDIC did not comply with Freedom of Information Act (FOIA) requests submitted to the U.S. District Court for the District of Columbia. The lawsuits claim that the federal agencies are attempting to exclude the crypto industry from the banking sector. Coinbase’s FOIA requests to the SEC were aimed at obtaining information about the agency’s stance on Ethereum, particularly its transition to a proof-of-stake

Source: CryptoIntelligence