FDIC accused of omitting more crypto ‘pause letters’ in Coinbase-backed suit
The FDIC is facing accusations of withholding additional crypto-related pause letters in a Coinbase-backed lawsuit under the Freedom of Information Act. A status report filed on January 17 claims that the agency may have left out more than 150 relevant documents, including pause letters issued between March 2022 and May 2023, which were part of a wider program deemed 'Operation Chokepoint 2.0.' Coinbase's Chief Legal Officer, Paul Grewal, criticized the FDIC for limiting its search to pause letters recognized in a specific report, arguing that other letters likely exist. While the FDIC contends that it has complied with the FOIA request by producing all pertinent documents, Grewal insists that it is intentionally obfuscating the process. The FDIC has pledged to expedite the review of any requests for letters outside the initially defined parameters. The allegations of wrongdoing by the FDIC have led Senator Cynthia Lummis to suggest that if whistleblower claims are substantiated, criminal referrals to the DOJ may follow.
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