Coinbase’s lawsuits claim that the SEC and FDIC have not provided requested information regarding Ethereum’s shift to PoS in response to FOIA requests.
On June 27, Coinbase sued the SEC and the FDIC for failing to meet legal reporting requirements on regulation.
The report from FoxBusiness indicates that the lawsuits allege that the SEC and FDIC failed to honor FOIA requests filed in the U.S. District Court in the District of Columbia.
Coinbase’s lawsuits claim that federal agencies are seeking to exclude the crypto industry from the banking sector.
Coinbase Questions Federal Authorities about Compliance with FOIA
The FOIA requests filed to the SEC attempted to gain an understanding of the agency’s position on Ethereum’s switch to proof of stake consensus algorithm.
Specifically, Coinbase sought documents relating to Ethereum 2.0 and prior probes concerning Zachary Coburn and Enigma MPC via its consultant firm, History Associates Inc.
