Deep Tide TechFlow News, February 9th, According to Decrypt, the Federal Deposit Insurance Corporation (FDIC) has agreed to pay $188,440 in legal fees and amend its information disclosure policy to resolve FOIA (Freedom of Information Act) litigation related to Coinbase. The case revealed multiple “suspension letters” sent by the FDIC to banks, demanding that they cease or restrict cryptocurrency-related activities. The court previously ruled that the FDIC violated FOIA, criticizing its failure to review the documents individually and instead classifying them all as exempt.
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FDIC agrees to pay $188,000 settlement in Coinbase "Suspension Letter" lawsuit
Deep Tide TechFlow News, February 9th, According to Decrypt, the Federal Deposit Insurance Corporation (FDIC) has agreed to pay $188,440 in legal fees and amend its information disclosure policy to resolve FOIA (Freedom of Information Act) litigation related to Coinbase. The case revealed multiple “suspension letters” sent by the FDIC to banks, demanding that they cease or restrict cryptocurrency-related activities. The court previously ruled that the FDIC violated FOIA, criticizing its failure to review the documents individually and instead classifying them all as exempt.