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TEXXR

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Coinbase files two lawsuits against the US SEC and the FDIC for not complying with FOIA requests; one of the FOIA requests is about how the SEC views ether

instead of waiting to be picked on, Coinbase deals with the bully in the best way possible, a direct confrontation. LinkedIn: David Brill : Coinbase Sues SEC and FDIC Over Alleged Lack of Transparency in Crypto Regulation  —  Coinbase is suing the U.S. Securities and Exchange Commission … Forums: r/ethtrader : Coinbase sues SEC, FDIC over FOIA requests, says federal regulators trying to cut out crypto

The Block Sarah Wynn

Discussion

  • @iampaulgrewal @iampaulgrewal on x
    Financial regulators have used multiple tools at their disposal to try to cripple the digital-asset industry.  @SECGov has claimed sweeping authority, but refuses to provide any rules, let alone consistent or coherent ones.  While @FDICgov pressured financial institutions to cut …
  • @iampaulgrewal @iampaulgrewal on x
    We asked the SEC for documents about closed investigations to shed light on how the SEC views its newfound, sweeping (and unlawful) authority. One of those investigations, which only recently closed, focused on ETH, which the SEC publicly announced is not a security in 2018. And
  • @iampaulgrewal @iampaulgrewal on x
    We asked the FDIC for the letters they sent to financial institutions asking them to indefinitely “pause” crypto-related activities, an action that the FDIC's own Office of Inspector General criticized for creating a “risk that the FDIC would inadvertently limit financial
  • @faryarshirzad Faryar Shirzad on x
    We are hopefully near the end of an era of unprecedented politicization of our regulatory system - where the rules mean nothing, the public is not owed any fair process, and political objectives drive key decisions. To heal from the abuse of the last several years requires
  • @timccopeland Tim Copeland on x
    Coinbase highlighting the SEC's inconsistent statements over the years [image]
  • @splitcapital Zaheer on x
    The calculus has changed now for Coinbase watching the odds of a Trump Presidency increasing. I have to imagine they feel emboldened to keep pushing ahead of the election and get more concessions from the financial plumbing of the US government.
  • @nic__carter Nic Carter on x
    WOW. Coinbase sued the FDIC (and SEC) alleging a concerted campaign to de-bank crypto startups. They use the Operation Choke Point 2.0 term a number of times in the complaint. [image]
  • @_jikim Ji Kim on x
    Transparency and a clear process to ensure that the markets, investors, and the broader public understand the view of law are cornerstones of what makes the U.S. so great. This is NOT optional. @iampaulgrewal said it best 👇: “. . .[T]his is no way to operate a transparent
  • @bitcoinpierre Pierre Rochard on x
    Elizabeth Warren's war against #bitcoin and crypto is secretive and illegal because her extremist views are far too unpopular to pass as legislation.
  • @nic__carter Nic Carter on x
    Very glad Coinbase is doing this. Every crypto startup in the US faces banking issues due to the FDICs unconstitutional pressure campaign. Time to get to the bottom of this!
  • @vishalkgupta Vishal K. Gupta on x
    The US is under regulated in the Crypto industry Exchanges/Custodians rely on MTLs/MSB licensing instead of a clear regulatory regime This is the rare instance where an industry is begging for regulation only to find a regulator that is unclear at best, usually combative
  • @jseyff James Seyffart on x
    @nic__carter Coinbase quickly becoming the crypto industry's ‘Knight in Shining Armor’ over the last couple years. Whether people like it or not. lol
  • @adamscochran Adam Cochran on x
    Awesome to see Coinbase go on the offensive here. The insane amount of crap regulators have thrown at crypto has hindered the US industry with a chilling effect. Now it's time to push back and let the judiciary put these folks in their place. 🫡
  • @alexandergrieve Alexander Grieve on x
    Probably good time to flag that Biden admin has nominated another crypto-skeptic for FDIC Chair, and is re-nominating the currently most-anti-crypto SEC commissioner (hint: it's not actually Gary). Hearing will be July 11 in Senate Banking.
  • @autismcapital @autismcapital on x
    🚨Based Coinbase goes on the offensive and sues the SEC. The SEC has been relentlessly bullying Crypto companies and providing virtually zero compliance guidance — instead of waiting to be picked on, Coinbase deals with the bully in the best way possible, a direct confrontation.
  • r/ethtrader r on reddit
    Coinbase sues SEC, FDIC over FOIA requests, says federal regulators trying to cut out crypto