PANews October 22 news, according to Cointelegraph, Coinbase has submitted two Freedom of Information Act (FOIA) requests to U.S. regulators seeking disclosure of documents regarding U.S. banks' actions against cryptocurrency companies. Coinbase's Chief Legal Officer Paul Grewal stated that the Federal Deposit Insurance Corporation (FDIC) allegedly required banks to limit deposits from crypto companies to no more than 15% of total deposits. Coinbase hopes to understand how regulators are responding to the regulation of crypto assets through these requests.

In addition, Coinbase has submitted a second FOIA request aimed at obtaining information on regulators' responses to previous crypto-related FOIA requests. Previously, Coinbase filed a lawsuit after the SEC and FDIC refused to disclose related documents. Grewal stated that these new requests are unrelated to the previous lawsuit and are part of their ongoing efforts to achieve regulatory transparency.