PANews reported on April 1st that, according to Beincrypto, Coinbase inquired with the District of Columbia local court about potentially resuming its previous lawsuit against the Federal Deposit Insurance Corporation (FDIC). Coinbase sued the regulatory agency over "Operation Choke Point 2.0" and claimed that the FDIC continues to refuse providing relevant information. Based on currently available information, it is difficult to draw definitive conclusions. The FDIC firmly maintains that it has truthfully answered the counterparty's questions, despite past instances of delay.
According to Coinbase's lawsuit, the FDIC has not provided any new information since late February and claimed in early March that the exchange's follow-up requests were "unreasonable and beyond the scope of investigation". On one hand, the FDIC has been slow to disclose relevant information in the Coinbase lawsuit. On the other hand, "Operation Choke Point 2.0" has created significant tension in the industry, with a determined group now working to substantially reduce the power of related regulatory agencies. Before the legal battle continues, it is difficult to make any definitive statements. The FDIC may have two weeks to respond to Coinbase's request.
The FDIC plays a crucial role in US financial regulation, primarily responsible for handling banking matters. This has positioned it as a key player in "Operation Choke Point 2.0", obstructing cooperation between banks and cryptocurrency enterprises. However, the agency has recently begun to shift towards supporting cryptocurrencies, publishing a series of accusatory documents and rescinding multiple anti-cryptocurrency regulations.
