Coinbase vs SEC on Freedom of Information Act (FOIA)

Coinbase has taken legal action against the SEC and FDIC for denying Freedom of Information Act (FOIA) requests, seeking transparency in crypto-related policy. Through consultancy firm History Associates Inc, Coinbase filed a lawsuit in the U.S. District of Columbia, accusing the agencies of withholding documents crucial for understanding regulatory stances on Ethereum and crypto-assets.

Coinbase vs SEC

The requests included details on SEC investigations into Enigma MPC and Etherdelta founder Zachary Coburn, and an FDIC directive for financial institutions to halt crypto operations. Coinbase claims the agencies’ refusals impede transparency and regulatory clarity, intensifying the ongoing conflict between the crypto exchange and regulatory bodies.

This lawsuit adds to Coinbase’s ongoing disputes with the SEC, which includes previous accusations of unregistered securities trading and operating an illegal securities exchange. The platform’s 2022 rule-making petition is also progressing to the U.S. Court of Appeals for the Third Circuit, highlighting Coinbase’s broader struggle for clearer regulations in the digital asset industry.

Add a Comment

Your email address will not be published. Required fields are marked *