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 <[1]foil@budget.ny.gov>
   Date: Tue, Jan 24, 2023, 4:27 PM
   Subject: FOIL request
   To: [2]G@xny.io <[3]G@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

   [4]G@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:

   [5]https://www.dfs.ny.gov/reports_and_pub1ications/press_releases/pr202
   301041. 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:

   [6]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:

   [7]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

References

   1. mailto:foil@budget.ny.gov
   2. mailto:G@xny.io
   3. mailto:G@xny.io
   4. mailto:G@xny.io
   5. https://www.dfs.ny.gov/reports_and_pub1ications/press_releases/pr202301041
   6. https://www.nasdaq.com/articles/goldman-sachs-partners-with-coinbase-for-banks-first-
   7. https://drive.google.com/file/d/1Yx88RMoeLyyfbNK0RtP14r-