TechFlow news: Coinbase Chief Legal Officer Paul Grewal.eth posted on X, stating that Coinbase has requested the Federal Deposit Insurance Corporation (FDIC) to provide copies of its letters sent to financial institutions instructing them to indefinitely "pause" cryptocurrency-related activities. Paul Grewal.eth criticized the current regulatory approach as inappropriate, called on financial regulators to improve their practices, and expressed appreciation for the court's attention to these critical issues.
Paul Grewal.eth further explained that Coinbase had previously requested documents from the SEC regarding closed investigations, aiming to understand the SEC's view on its newly asserted broad—and unlawful—authority. One such investigation focused on ETH, which the SEC publicly declared in 2018 was not a security. Nonetheless, the SEC has continued to obstruct these document requests.
