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We asked the SEC for documents about closed investigations to shed light on how the SEC views its newfound, sweeping authority. One of those investigations, which only recently closed, focused on ETH, which the SEC publicly announced is not a security in 2018. And…On the part of the FDIC, Grewal said the primary goal has been to cut crypto off from the banking system. This was showcased in the past in a case between Custodia Bank and the Federal Reserve.
As Paul Grewal noted, the firm asked the SEC for information on cases that might have given it the authority it has to maintain the kind of authority it currently wields. As he noted, the SEC has failed to respond to these requests even though one of the requests is linked to the recently Besides the SEC, the FDIC also violated the Freedom of Information Act when it failed to provide the letters it sent to financial institutions, asking them to indefinitely “pause” crypto-related activities.
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