FDIC agrees to pay Coinbase commission fees and promises policy reforms

In a joint progress report submitted to the federal court in Washington D.C., the Federal Deposit Insurance Corporation (FDIC) agreed to pay approximately $180000 in legal fees incurred by History Associates Incorporated (a research firm commissioned by Coinbase to submit record requests) and waived its confidentiality defense against cryptocurrency related "cease and desist letters", ending the Freedom of Information Act lawsuit related to the "Suffocation Point Action 2.0" bank's loan cutting strategy. At the same time, FDIC promises to add a clause in the training materials, requiring employees to broadly interpret the Freedom of Information Act requests and stating that it will not adopt a comprehensive confidentiality policy for all banking regulatory documents based on the exemption clause of Article 8 of the Freedom of Information Act.