Coinbase, a big company that works with digital money like Bitcoin, is having another argument with some significant groups in the U.S. government. The groups are called the Securities and Exchange Commission (SEC) and the Federal Deposit Insurance Corp. (FDIC). Coinbase asked them for some information, but they said no. Coinbase wants this information and should be allowed to have it.

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• Coinbase is suing U.S. SEC and FDIC over alleged denial of access to crucial documents.
• The documents in question relate to the SEC’s cases on digital assets and FDIC’s ‘pause letters’ on crypto activities.
• This lawsuit is the latest in a series of legal disputes between Coinbase and U.S. financial regulators.

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Coinbase Claims Unfair Denial of Document Access by U.S. SEC and FDIC

Coinbase wants to see some letters and reports from the SEC about specific types of digital money, like Ethereum’s ether (ETH). It also wants to see some letters from the FDIC that told banks to stop working with digital money.

This argument happens after the SEC checked if “Ethereum 2.0”, another type of digital money, is safe. This might make it harder for the SEC to say no to giving information about ether.

Coinbase also wants information about two old cases. One concerns Zachary Coburn, who created a platform for trading ether. The other concern is Enigma MPC, which sells many digital tokens. The SEC said those tokens were not appropriately registered.

Coinbase’s top lawyer, Paul Grewal, said on a website (which used to be called Twitter) that he’s upset because the SEC won’t give Coinbase the information it wants. He thinks the SEC is using a rule called “exemption 7A” to hide information that could help them.

The SEC and FDIC didn’t say anything about this argument. However, the company helping Coinbase with all of this, History Associates, thinks that the FDIC is using the ‘pause letters’ to make banks stop working with digital money companies.

Coinbase has had many arguments like this with the U.S. government. Right now, it’s also fighting the SEC in court because the SEC says Coinbase is doing something illegal.

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