Coinbase, one of the leading crypto currency exchanges of the USA, has a movement in front of the DC Regional Court, the Federal Deposit Insurance Company (FDIC).
The stock market says that FDIC is still detained some important documents and does not cooperate with information requests.
. case FDIC is trying to force FDIC to deliver the records of his conversations with banks about the crypto currency actions, including the ‘Pause Letters’, which tells banks to stop providing crypto services to banks. “
Coinbase is looking for the court’s intervention as Fastes in Fastes operation in FDIC cooperation operation.
Coinbase joined a one -month war with FDIC. The company has been following the FDIC operation Choke Point 2.0 for months and has achieved impressive results. However, Coinbase wants the DC regional court to sue against the regulator.
After President Trump appointed Travis Hill as the FDIC president, the legal procedure was stopped in February 2025. Hill promised to increase the transparency of the agency beyond the FoIA requirements and expressed the hope that the issue could be solved outside the court.
Nevertheless, Coinbase’s chief law officer Paul Grewal says that there is dissatisfaction with FDIC’s transparency. He acknowledges that cooperation has healed under new leadership, but he thinks it is still not enough.
Coinbase Chief Law Director Paul Grewal, “We want the court to continue our case because FDIC unfortunately stopped sharing information. We would love to solve this outside the legal system – and we will appreciate the increasing cooperation we see from the new FDIC leadership – we still have a way.”
As an important US financial regulator who controls banks, the FDIC played a central role in the Choke Point 2.0 operation by restricting banks’ interactions with the crypto currency business. However, it has recently launched a pro-crypto turn, which has recently published relevant documents and canceled several anti-cippto regulations.
Growing he says “Appreciated increasing cooperation from FDIC”. However, he said that the cooperation stopped weeks ago.
According to Coinbase’s filingSince the end of February, the FDIC has not sent a new information and in early March, the stock market claims that the subsequent demands of the stock market were ız unreasonable and beyond the discovery scope ”.
FDIC is expected to respond to Coinbase’s movement within two weeks.
Coinbase forces the court action as FDIC’s excessive access can change the future of crypto innovation.
Shoe Point 2.0 operation is the term used for a series of actions that are allegedly taken by some federal regulators and agencies to limit banking access to some high -risk or controversial industries, including crypto currency businesses.
Critics say that this is a thin Ploy to kill the crypto field by rejecting the changes in accessing ecosystem to traditional banking services, intermediary institutions and other players.
Coinbase claims that the actions carried out by informal guidance and informal pressure on banks, especially on banks, have initiated a hostile environment for crypto currency businesses under FDIC.
These operations resulted in an illegal restriction on access to banking services, which brought cryptographic firms to a relatively disadvantaged position in the financial arena.
As a part of the effort to revive the case, Coinbase is looking for a court intervention to force FDIC to respond in the future and for forcing it to overcome so much. Coinbase argues that such excessive access cools innovation in the digital assets market.
FDIC’s actions argue that they believe that crypto currency companies should not be punished according to what job they choose to do, and violate the necessary process and the first change.
If the Coinbase is successful in reviving the case, the results may be sweeping for both the crypto currency industry and regulatory institutions.
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