FOIL request

[Gunnar Larson]

Dear Mr. Lombardi:

Thank you very much for your email.

Gunnar

Gunnar Larson
xNY.io - Bank.org
646-454-9107

---------- Forwarded message ---------
From: dob.sm.foil <foil at budget.ny.gov>
Date: Tue, Jan 24, 2023, 4:27 PM
Subject: FOIL request
To: G at xny.io <G at xny.io>


Please see the attached related to your FOIL request.


KATHY HOCHUL

Governor

SANDRA BEAmE

Division of

the Budget

Acting Director of the Budget

Via Electronic Mail

January 24, 2023

Mr. Gunnar Larson

G at xny.io

Dear Mr. Larson:

This is in response to your Freedom of Information Law ("FOIL") request to
the

New York State Division of the Budget (the "Division") dated January 14,
2023 in which

you seek: "any and all records concerning New York State's investigation of
Coinbase,

comprising the $100M settlement mentioned here:

https://www.dfs.ny.gov/reports_and_pub1ications/press_releases/pr202301041.
We are

requesting all public records from 2018 to 2022 concerning New York's
aforementioned

Coinbase investigation. Moreover, xNY.io - Bank.org seeks access to any and
all

records concerning New York's regulatory scrutiny (and/or approval) of
Goldman Sachs'

partnership with Coinbase, issuing the bank's first Bitcoin loan mentioned
here:

https://www.nasdaq.com/articles/goldman-sachs-partners-with-coinbase-for-banks-first-

bitcoin-backed-loan. In addition, xNY.io - Bank.org seeks any and all
records

concerning New York's approach to Coinbase and Goldman Sachs compliance

programs mandated by the United States Department of Justice, Criminal
Division,

Fraud Section and Money Laundering and Asset Recovery Section mentioned
here:

https://drive.google.com/file/d/1Yx88RMoeLyyfbNK0RtP14r-

m8N21_ 1 Sp/view?usp=drivesdk. Finally, xNY.io - Bank.org seeks records
concerning

New York's regulatory approval of Coinbase engaging a fine of $SOM to
implement

heightened controls and additional procedures and policies relating to
electronic

surveillance and investigation, due diligence on transactions or clients
and the use of

third-party intermediaries across business units; and enhancing
anti-corruption training

for all management and relevant employees."


With regard to the first, second and fourth portions of your request, the
Division

does not possess records responsive as of January 14, 2023 With regard to
the

portion of your request, which is as follows: "any and all records
concerning New York's

approach to Coinbase and Goldman Sachs compliance programs mandated by the

United States Department of Justice, Criminal Division, Fraud Section and
Money

Laundering and Asset Recovery Section", the Division has determined that
this portion

of your request is overly broad and is not reasonably described, pursuant
to Public

Officer's Law ("POL") Section 89(3)(a). If you do not submit a revision to
this portion of

your request by January 30, 2023, the Division will consider this portion
of your request

withdrawn.

;�y

:��ti

Joel C. Lombardi

FOIL Officer
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