According to TechFlow, cryptocurrency critic Molly White and consumer rights organization Public Citizen submitted an updated complaint to the Federal Election Commission (FEC), continuing to accuse Coinbase of violating US campaign finance laws.
The complaint alleges that Coinbase violated the law by acting as a "federal contractor" and donating $25 million to the Fairshake super PAC.
Coinbase Chief Legal Officer Paul Grewal denied the allegations, saying the company is not a federal contractor. White and Public Citizen countered that asset forfeiture funds are based on congressional appropriations and Coinbase is still a federal contractor.
Grewal responded by saying that the confiscated cryptocurrencies were not congressional appropriations, and emphasized that Coinbase donated equally to the bipartisan super PACs. Rick Claypool, director of research at Public Citizen, criticized Coinbase for exploiting legal loopholes and called on the FEC to strengthen law enforcement.
