11:48 AM EDT, 06/27/2024 (MT Newswires) -- Coinbase Global ( COIN ) through an intermediary History Associates filed lawsuits against the US Securities and Exchange Commission and the Federal Deposit Insurance Corporation in the US District Court for the District of Columbia for not complying with the Freedom of Information Act requests.

Coinbase allegedly claims that the federal agencies have "engaged in a coordinated effort to cut off the digital-asset industry from the banking sector."

"The SEC has claimed sweeping authority, but refuses to provide any rules, let alone consistent or coherent ones," Coinbase Chief Legal Officer Paul Grewal said in a post on X. "While FDIC pressured financial institutions to cut off the industry from the banking system."

"Today we filed lawsuits under the Freedom of Information Act for requests we made over a year ago seeking important information to which we, and the public, are entitled," Grewal added.

Neither the SEC nor FDIC immediately responded to MT Newswires' requests for comment.

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