The Federal Deposit Insurance coverage Company (FDIC) closed a information dispute after agreeing to cowl $188,440 in authorized charges and finish its try and hold sure crypto-related letters confidential.
The settlement ends a FOIA lawsuit that targeted on paperwork displaying how banks had been urged to cease or reduce plans involving digital asset companies.
The case started when Historical past Associates Included, appearing on behalf of Coinbase
$2.05B
, requested entry to the letters. The FDIC declined to launch them, which led to a court docket problem in Washington, DC.
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The request turned extra important after the company’s Workplace of Inspector Basic issued a report in October 2023. That report famous that the FDIC had despatched messages to banks “asking them to pause, or not broaden, deliberate or ongoing crypto-related actions”.
A federal choose dominated in November 2025 that the FDIC “violated FOIA” by blocking the letters by way of a broad withholding method moderately than reviewing every doc individually.
The choose additionally said that the company “redacting data within the pause letters that’s not topic to Exemption 8 or wouldn’t impair any curiosity protected by Exemption 8″.
In a joint standing submitting, the FDIC dedicated to pay the complete lawyer charges requested and to replace components of its FOIA course of.
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