Coinbase filed lawsuits against SEC and FDIC, claiming non-compliance with FOIA requests, alleging deliberate efforts to restrict crypto industry's access to banking services.
The exchange points to regulators pressuring banks to deny services to Bitcoin and crypto firms, likening it to 'Operation Choke Point,' indicating an existential threat to the industry.
Legal experts suggest challenges in proving malice by regulators in FOIA lawsuits, but Coinbase's actions signify resistance against regulatory constraints on the crypto industry.
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