Coinbase is seeking documentation from the Federal Deposit Insurance Corporation (FDIC) on whether banking regulators have privately prohibited depository institutions from holding digital assets. The first request involves documents detailing digital asset holdings caps or limits allegedly imposed by the Federal Deposit Insurance Corporation (FDIC) on U.S. depository institutions. The application was filed through the Freedom of Information Act (FOIA), which requires U.S. administrative agencies like the FDIC to disclose internal information when requested by the public. The second application filed by Coinbase with the FDIC requested information on the types of FOIA applications filed with banking regulators since the beginning of 2022. It is speculated that if the FDIC has denied a large number of cryptocurrency-related information requests, this may be to hold the FDIC liable. The recipient of a FOIA application can lawfully deny the application on grounds including the sensitivity of a particular subject, or in the name of respecting an individual's privacy.