Coinbase A laid A legal objection to the last attempt of the Federal Deposit Insurance Insurance Corporation (FDIC) to delay the publication of key documents linked to the alleged presentation of cryptographic companies.
On April 10, the exchange opposed the FDIC request for an extension of 16 days in response to a trial of the Freedom of Information Act (FoIA).
Paul Grewal, the company’s legal director, described the “absurd” request while stressing that the FDIC submitted 13 pages to ask for more time to decide if it needs delays.
He wrote:
“The FDIC has just deposited 13 pages in our FoIa trial asking the court for 16 additional days to decide to ask us … even more delay. As indicated in our answer, it is absurd. “
In his judicial file, Coinbase accused the FDIC of blocking and not to comply with its obligations under the foia. The exchange argued that the agency’s designed documents were so strongly censored that they offered no significant idea.
He also challenged the affirmation of the FDIC according to which the new deadline for response is May 2, declaring that the actual due date should be on April 16. According to Coinbase, the FDIC has amply had time to respond and now tries to circumvent its legal responsibilities by poorly interpreting the Deadlines.
This legal battle is one of the wider efforts of Coinbase to expose the role of government in the gambling of cryptography.
Earlier this year, disclosure ordered by the court revealed hundreds of pages of internal FDIC documents showing that the agency had put pressure on American banks to reduce links with digital asset companies.
Some banks have been invited to stop services to cryptographic companies until they receive regulatory authorization, while others have been informed of the reputation risks associated with the sector’s commitment.
However, Coinbase believes that these disclosure only scrapes the surface and that society greatly pushes greater transparency to understand the full extent of the role of the FDIC in the gambling of cryptography.
Meanwhile, the FDIC has recently taken measures to align itself more closely with the cryptography industry, revoining several anti-Crypto regulations and working towards a more transparent framework for American banks that engage with digital assets
