Coinbase Files Lawsuits Against SEC and FDIC

Coinbase is taking legal action in order to obtain information from the Securities and Exchange Commission and the Federal Deposit Insurance Corporation regarding their stance on cryptocurrency regulation.

According to sources, the lawsuits were filed on Thursday in a Washington, D.C. court, with the objective of gaining access to internal records to expose what the company considers to be a deliberate and coordinated effort by the agencies to influence banks to deny crypto businesses access to the federal banking system.

A representative from Coinbase stated to FOX Business that these regulators have been trying to harm the digital asset industry for years and the company is requesting transparency from the federal government.