The exchange asked regulators to disclose documents relating to an ongoing crackdown on crypto companies among US banks.
Coinbase has filed two Freedom of Information Act (FOIA) requests against United States regulators demanding they disclose, among other things, information about the ongoing cryptocurrency crackdown among US banks, according to Paul Grewal, Coinbase’s chief legal officer.
The Federal Deposit Insurance Corporation (FDIC), the US agency insuring bank deposits, has reportedly asked banks to cap deposits from crypto companies at 15% of total deposits.
“We filed two new sets of FOIA requests in our continued effort to get any sort of clarity on how regulatory agencies are approaching digital assets,” Grewal said in an Oct. 21 post on the X platform.
