PANews reported on November 5 that according to Coingape, Coinbase has won a major victory in the Freedom of Information Act (FOIA) lawsuit against the U.S. Federal Deposit Insurance Corporation (FDIC). Coinbase Chief Legal Officer Paul Grewal announced that the judge has ordered the FDIC to make public the "Operation Chokepoint 2.0" suspension letters, which are used to instruct banks to stop providing cryptocurrency-related services. Grewal said the move is an important step in promoting regulatory transparency.
Coinbase has submitted multiple FOIA requests in an attempt to force regulators to take a stance on crypto policy and clarify their attitude towards digital assets. Previously, the FDIC had required banks to limit deposits from crypto companies to 15% of total deposits, but without a public comment period, which aroused widespread concern.
