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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 maintain sure crypto-related letters confidential.
The settlement ends a FOIA lawsuit that centered on paperwork exhibiting how banks had been urged to cease or reduce plans involving digital asset companies.
The case started when Historical past Associates Integrated, performing on behalf of Coinbase
$2.1B
, 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 increase, deliberate or ongoing crypto-related actions”.
A federal decide dominated in November 2025 that the FDIC “violated FOIA” by blocking the letters via a broad withholding method fairly than reviewing every doc individually.
The decide additionally acknowledged 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 total lawyer charges requested and to replace elements of its FOIA course of.
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