SEC refuses to request the Freedom of Information Act regarding Tether documents-

On September 24th, the employee of The New Republic, Jacob Silverman, tweeted a request for the Freedom of Information Act (FOIA), which was ultimately rejected. On the social media platform, Silverman wrote that he received answers from the Securities and Exchange Commission (SEC) on his FOIA inquiries and said that the answers were "held back due to possible investigations by the law enforcement authorities".

Jacob Silverman applied for “access to all documents, emails, memos and reports regarding Tether”

Nowadays there are a lot of stable coins and today all existing stable coins are involved. evaluated 129.7 billion US dollar . The oldest stable coin and the largest tether ( usdt ) has over 69.7 billion US dollar of all Stable coins. On this Friday, an employee of the New Republic, Jacob Silverman He tweeted that he had submitted a foia application to "Tether" and "Tether Operations Limited".

Essentially, an inquiry for the Freedom of Information Act (FOIA) enables the Americans to access all the notes of the federal authorities. However, the public cannot receive access to records (or parts of records) if a law enforcement examination is carried out or records are protected by disclosure.

Nowadays there are about three types of exclusions and nine exceptions that a federal authority can use if a file request has been made. In the request, the requester can specify the format and the type of data records.

Silverman "searched for access to all documents, emails, memos and reports in connection with Tether Operations Limited". The FOIA request can be found here and Silverman tweeted about the answers of the government authority.

"I have received SEC answers on FOIA inquiries that I submitted for information on 'Tether' and 'Tether Operations Limited', Silverman called . "Hold back due to possible investigations by the law enforcement authorities," he added. In the response of the SEC it is pointed out that the agency claims an exception.

"We are holding back records that may react to your request in accordance with 5 USC § 552 (7) (a)." further. "This exception protects against disclosure records that have been created for law enforcement purposes and which could reasonably impair the enforcement activities. Since the exception 7 (a) protects the records from disclosure, we have not determined whether other exceptions apply. Therefore, we reserve the right to assert other exceptions if exception 7 (a) no longer applies." The SEC response adds:

The answer to Silverman does not mean that the law enforcement authorities or the federal authority itself intends to complain about the company due to illegal activities. Last February, the analyst bennett tomlin also submitted a foia application with the SEC regarding tether documentary documents, and in the letter it says that the supervisory authority "none" Found or identified information that react to your request ”.

In response to Silverman's recent request and answer, Tomlin tweeted about the foia request and said: Hey [jacob silverman] You got a different answer than I have a couple [of] a few months ago. ”

"What tells us that the SEC has started at some point between February and now," said Tomlin. "I don't think [Jay] Clayton thought it would be securities, but it seems [Gary] Gensler", the analyst completed .

What do you think of the response from the US regulatory authority to Jacob Silverman to Tether? Let us know your opinion on this topic in the comments below.

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