TechFlow News, according to The Block, Coinbase filed two lawsuits on Thursday against the U.S. Securities and Exchange Commission (SEC) and the Federal Deposit Insurance Corporation (FDIC) in the U.S. District Court for the District of Columbia. The lawsuits allege that these federal financial regulators failed to comply with Freedom of Information Act (FOIA) requests and have attempted to exclude the cryptocurrency industry from the banking system.
Coinbase submitted FOIA requests through its advisory firm, History Associates Inc., seeking documents from the SEC and FDIC, but both requests were denied. Coinbase accuses the agencies of using various regulatory tools to suppress the digital asset industry and is asking the court to compel them to fulfill their obligations for public disclosure of information.
