{"id":12548,"date":"2021-09-26T18:54:10","date_gmt":"2021-09-26T18:54:10","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/sec-denies-freedom-of-information-act-request-concerning-tether-documents\/"},"modified":"2021-09-26T18:54:10","modified_gmt":"2021-09-26T18:54:10","slug":"sec-denies-freedom-of-information-act-request-concerning-tether-documents","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/sec-denies-freedom-of-information-act-request-concerning-tether-documents\/","title":{"rendered":"SEC Denies Freedom of Information Act Request Concerning Tether Documents"},"content":{"rendered":"

On September 24, the staff writer for The New Republic, Jacob Silverman, tweeted about a Freedom of Information Act (FOIA) request he filed that was ultimately denied. On the social media platform, Silverman wrote that he got Securities and Exchange Commission (SEC) responses to his FOIA requests and said the responses were \u201cwithheld because of possible law enforcement investigation.\u201d<\/strong><\/p>\n

Jacob Silverman Sought \u2018Access to All Documents, Emails, Memos, and Reports Related to Tether\u2019<\/h2>\n

There\u2019s a ton of stablecoins these days and today, all the stablecoins in existence are valued at $129.7 billion<\/a>. The oldest stablecoin and the largest, in terms of market valuation, tether (USDT<\/a>) commands $69.7 billion of the aggregate total of all stablecoins. This Friday, a staff writer from the publication The New Republic, Jacob Silverman<\/a>, tweeted that he had filed for a FOIA request concerning \u201cTether\u201d and \u201cTether Operations Limited.\u201d<\/p>\n

Essentially, a Freedom of Information Act (FOIA) request allows Americans to access all federal agency records. However, the public cannot gain access to records (or portions of records) if there is a law enforcement investigation or records are protected by disclosure.<\/p>\n

Today, there are approximately three types of exclusions and nine exemptions a federal agency can use if an inquiry to records has been made. In the request, the inquirer can specify the format and type of records.<\/p>\n

Silverman was \u201cseeking access to all documents, emails, memos, and reports related to Tether Operations Limited.\u201d The FOIA request can be found here<\/a> and Silverman tweeted about the responses from the government agency.<\/p>\n

\u201cGot SEC responses to FOIA requests I submitted for info on \u2018Tether\u2019 and \u2018Tether Operations Limited,\u2019\u201d Silverman said<\/a>. \u201cWithheld because of possible law enforcement investigation,\u201d he added. The SEC response notes that the agency is leveraging an exemption.<\/p>\n

\u201cWe are withholding records that may be responsive to your request under 5 U.S.C. \u00a7 552(b)(7)(A),\u201d the SEC reply<\/a> details further. \u201cThis exemption protects from disclosure records compiled for law enforcement purposes, the release of which could reasonably be expected to interfere with enforcement activities. Since Exemption 7(A) protects the records from disclosure, we have not determined if other exemptions apply. Therefore, we reserve the right to assert other exemptions when Exemption 7(A) no longer applies.\u201d The SEC response adds:<\/p>\n

It is the general policy of the Commission to conduct its investigations on a non-public basis. Thus, subject to the provisions of FOIA, the Commission does not disclose the existence or non-existence of an investigation or information gathered unless made a matter of public record in proceedings brought before the Commission or in the courts.<\/p>\n

Response Is Different Than the Reply Bennett Tomlin Received Concerning Tether in February<\/h2>\n

The response to Silverman does not mean that law enforcement or the federal agency itself plans to charge the company with any unlawful activity. Last February, the analyst Bennett Tomlin<\/a> also filed a FOIA request with the SEC concerning Tether documents, and the letter said after a thorough search of all the SEC\u2019s systems, the regulator \u201cdid not locate or identify any information responsive to your request.\u201d<\/p>\n

In response to Silverman\u2019s recent request and answer, Tomlin tweeted<\/a> about the FOIA request and said: Hey [Jacob Silverman] you got a different response than I did a couple [of] months ago.\u201d<\/p>\n

\u201cWhich tells us that the SEC started this sometime between February and now,\u201d Tomlin said. \u201cI don\u2019t think [Jay] Clayton thought they were securities but it seems [Gary] Gensler does,\u201d the analyst concluded<\/a>.<\/p>\n

What do you think about the response from the U.S. regulator to Jacob Silverman about Tether? Let us know what you think about this subject in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nNews, Bennett Tomlin, commission, FOIA request, Freedom of Information Act, Gary Gensler, Jacob Silverman, Jay Clayton, law enforcement purposes, regulator, Stablecoin, Stablecoin Tether, Stablecoins, Tether, Tether (USDT), Tether Operations Limited, Tether stablecoin, USDT<\/p>\n","protected":false},"excerpt":{"rendered":"

On September 24, the staff writer for The New Republic, Jacob Silverman, tweeted about a Freedom of Information Act (FOIA) request he filed that was ultimately denied. On the social media platform, Silverman wrote that he got Securities and Exchange Commission (SEC) responses to his FOIA requests and said the responses were \u201cwithheld because of…<\/p>\n","protected":false},"author":0,"featured_media":12549,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-12548","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/12548"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=12548"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/12548\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/12549"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=12548"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=12548"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=12548"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}