Coinbase, the largest US cryptocurrency exchange, has sued the SEC and FDIC.

Lawsuits allege that the SEC and FDIC have withheld information about past investigations and obstructed banking services for the crypto industry.

The SEC is already in a legal battle with Coinbase over alleged unregistered securities exchange operations.

Coinbase claims there is a lack of clear regulatory guidance from the SEC.

The FDIC is accused of pressuring banks to cut ties with crypto firms.

Despite these challenges, the SEC has approved spot ether ETFs for listing, showing signs of a more accommodating stance.

Coinbase's CEO hinted at potentially relocating the exchange outside the US to safeguard operations.

Coinbase shares surged by over 4% following the news of the lawsuits.

These legal actions highlight the ongoing conflicts between Coinbase and US financial regulators, with potential far-reaching implications for future crypto regulation.