Coinbase has taken legal action against the US Securities and Exchange Commission (SEC) and the Federal Deposit Insurance Corporation (FDIC) for failing to comply with its Freedom of Information Act (FOIA) requests, as noted by Fox Business.
The company filed lawsuits in the US District Court for the District of Columbia, accusing the federal financial regulators of attempting to restrict the crypto industry's access to the banking sector.
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FOIA requests were initiated to uncover the SEC's stance on Ether, as cited in an earlier lawsuit filed by blockchain software company Consensys.
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The lawsuits filed against the FDIC claim the agency has played a role in regulators' attempts to undermine the digital asset industry and seeks discovery of any information related to the scheme.