**Coinbase Sues SEC and FDIC Over FOIA Requests, Claims Federal Regulators Are Trying to Destroy Crypto**
In a bold legal move, Coinbase has filed a lawsuit against the U.S. Securities and Exchange Commission (SEC) and the Federal Deposit Insurance Corporation (FDIC). The lawsuit centers on Freedom of Information Act (FOIA) requests, with Coinbase alleging that these federal regulators are intentionally trying to undermine and destroy the cryptocurrency industry.
The core of Coinbase’s argument is that the SEC and FDIC have been less than transparent regarding their oversight and regulatory measures targeting cryptocurrencies. According to Coinbase, this lack of clarity is not merely bureaucratic inefficiency but a deliberate effort to stifle innovation and forcefully shape the market to their liking.
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As the crypto community closely monitors this unfolding legal battle, it underscores the mounting tension between pioneering crypto enterprises and traditional regulatory bodies. The outcome of this case could have far-reaching implications for the future of cryptocurrency regulation in the United States.
