According to TechFlow, Paulgrewal.eth, Chief Legal Officer of Coinbase, posted on the X platform that Coinbase asked the Federal Deposit Insurance Corporation (FDIC) to provide the letter it sent to financial institutions asking them to "suspend" cryptocurrency-related activities indefinitely. Paulgrewal.eth said that the current regulatory approach is inappropriate, called on financial regulators to improve, and thanked the court for paying attention to these important issues.
Paulgrewal.eth further explains that Coinbase has requested documents from the SEC regarding closed investigations to understand the SEC’s view on its newly acquired broad (and illegal) powers, one of which focused on ETH, which the SEC publicly declared was not a security in 2018. Despite this, the SEC has consistently stonewalled these requests.
