Coinbase has filed a formal objection to the Federal Deposit Insurance Corporation’s (FDIC) latest request to delay the release of documents tied to the alleged debanking of crypto firms.
On April 10, the crypto exchange opposed a motion by the FDIC seeking an additional 16 days to respond to Coinbase’s ongoing Freedom of Information Act (FOIA) lawsuit.
Paul Grewal, Coinbase’s Chief Legal Officer, criticized the agency’s request, calling it “absurd.” In a post on X, Grewal noted that the FDIC filed 13 pages to ask for more time—just to decide whether to ask for even more delay.
“FDIC just filed 13 pages in our FOIA suit asking the Court for another 16 days to decide whether to ask us for … even more delay. As laid out in our response, this is absurd,” he wrote.
In its legal filing, Coinbase accused the FDIC of failing to meet its transparency obligations and of dragging out the case unnecessarily. The company also argued that the documents released so far were so heavily redacted they revealed virtually nothing of substance.
The FOIA case is part of a broader push by Coinbase to uncover whether federal banking regulators have engaged in coordinated efforts to restrict access to banking services for crypto-related companies.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/coinbase-slams-fdic-over-delay-in-crypto-foia-case/