Top Highlights

• Publicly traded crypto exchange Coinbase, in connection with History Associates Incorporated, has filed two civil lawsuits against the Securities and Exchange Commission and Federal Deposit Insurance Corporation for their failure to comply with FOIA requests.
• Late last year, Coinbase hired History Associates Incorporated, a private historical research firm, to submit a FOIA request on its behalf.
• The letters were described in a report from the FDIC's Office of Inspector General (OIG), but never shared publicly. The OIG said the letters presented a "risk that the FDIC would inadvertently limit financial institution innovation and growth in the crypto space."
• History Associates Incorporate is suing the SEC for similar reasons.
• In March 2023, the Blockchain Association filed its own FOIA requests with the FDIC, Board of Governors of the Federal Reserve System, and the Office of the Comptroller of the Currency "documents and communications involving the de-banking of crypto firms in the United States."

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