The Federal Deposit Insurance Corporation (FDIC) has been criticized for excessive redactions in documents requested by Coinbase Crypto Exchange under the Freedom of Information Act (FOIA). Judge Ana C. Reyes reprimanded the FDIC for non-compliance with a court order, questioning the agency's good faith. Following complaints from Coinbase, the FDIC redacted too much information in response to FOIA requests about federal actions against the crypto industry. Coinbase's Chief Legal Officer, Paul Grewal, highlighted FDIC's actions on social media, suggesting the bank may have undisclosed information related to cryptocurrencies. The legal battle reflects broader concerns within the industry regarding federal directives to financial institutions to sever ties with crypto businesses. The FDIC's actions have fueled suspicions of systematic suppression of digital asset firms, prompting calls for clearer regulations and transparency. The outcome of the Coinbase FOIA case could set a precedent for greater regulatory transparency in the American financial sector. Read more AI-generated news on: https://app.chaingpt.org/news