Coinbase filed lawsuits against the United States (U.S.) Securities and Exchange Commission (SEC) and the Federal Deposit Insurance Corporation (FDIC) on June 27.
According to a FoxBusiness report, the lawsuits allege that the SEC and the FDIC failed to comply with Freedom of Information Act (FOIA) requests submitted to the U.S. District Court for the District of Columbia.
Coinbases’ lawsuits accuse the federal agencies of attempting to exclude the crypto industry from the banking sector.
FOIA requests
The FOIA requests aimed at the SEC sought information on the federal agency’s view on Ethereum, specifically its shift to a proof-of-stake (PoS) consensus mechanism.
Coinbase asked for records related to Ethereum 2.0 and previous investigations involving Zachary Coburn and Enigma MPC through its consultant firm, History Associates Inc.
This is a developing story, and further information will be added as it becomes available.
