FDIC to Pay Coinbase $188,440 in Legal Fees, Revise FOIA Disclosure Policy
The Federal Deposit Insurance Corporation agreed to pay Coinbase $188,440 in legal expenses and overhaul its Freedom of Information Act policy following a court ruling that found the agency violated federal disclosure rules, BlockBeats reports. Under the February 9 settlement, the FDIC will release previously withheld crypto-related "pause letters," add training guidance instructing staff to interpret FOIA requests broadly, and stop applying blanket confidentiality to all bank supervisory documents under FOIA Exemption 8.