[ad_1]
Cryptocurrency exchange Coinbase has filed lawsuits against the U.S. Securities and Exchange Commission (SEC) and the Federal Deposit Insurance Corporation (FDIC) on Thursday, alleging unfair targeting and opaque practices.
The legal challenges, lodged in the U.S. District Court for the District of Columbia, accuse the agencies of overregulation and failing to respond to Freedom of Information Act (FOIA) requests.
The exchange’s legal action seeks to counter what it views as a concerted effort by the SEC and FDIC to undermine the cryptocurrency sector by restricting access to banking services and withholding information.
Coinbase has criticized the SEC for using privacy claims to conceal its regulatory methods, particularly concerning Ethereum’s proof-of-stake transition and other crypto entities.
The FDIC is similarly under fire for advising banks to halt the expansion of crypto-related services through “pause letters,” a tactic Coinbase likens to the controversial “Operation Choke Point.”
Coinbase’s dispute with the SEC also includes a previous lawsuit from April 2023, where the exchange demanded a definitive stance on crypto-specific regulations.
Despite discussions since July 2022, the SEC has yet to provide clear guidelines, opting to enforce existing securities laws that Coinbase argues are ill-suited for cryptocurrencies.
[ad_2]
This article was originally published by a finance.yahoo.com . Read the Original article here. .
Disclaimer:The information provided on this website does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website’s content as such. BitcoinNews.best does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.