U.S. FDIC Settles Lawsuit Over Bank Service Restrictions to Cryptocurrency Firms

On the 6th, the Federal Deposit Insurance Corporation (FDIC) agreed to settle a lawsuit related to the Freedom of Information Act (FOIA) concerning cryptocurrency assets. The FDIC has agreed to pay all legal fees for History Associates, the research firm that filed the disclosure request on behalf of cryptocurrency exchange Coinbase, and to review its practices related to the Freedom of Information Act. This case dates back to 2023 when Coinbase, through History Associates, requested the FDIC to disclose internal documents regarding banks' dealings with cryptocurrencies. Paul Grewal, the Chief Legal Officer of the company, stated that the FDIC and other financial institutions...