Crypto exchange Coinbase, under the leadership of Paul Grewal, has submitted two Freedom of Information Act (FOIA) requests to United States regulators, in which they are asking for information regarding the ongoing crackdown by American banks on cryptocurrencies.
One of the requests specifically asks for information from the Federal Deposit Insurance Corporation (FDIC), the government agency responsible for insuring bank deposits, regarding the 15% deposit cap they have asked banks to impose on crypto companies.
Grewal announced the requests on Oct. 21 on the X platform, stating that they are part of Coinbase’s efforts to gain clarity on how regulatory agencies are approaching digital assets.
