TechFlow News, February 9: According to Decrypt, the U.S. Federal Deposit Insurance Corporation (FDIC) has agreed to pay $188,440 in legal fees and revise its public information policy to resolve a Freedom of Information Act (FOIA) lawsuit related to Coinbase. This case revealed multiple “cease-and-desist letters” the FDIC sent to banks, instructing them to halt or restrict cryptocurrency-related activities. A court previously ruled that the FDIC violated FOIA, criticizing it for categorizing all documents as exempt rather than reviewing them individually.
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