🌋 SEC Declines to Provide Additional Documents in Coinbase Case
posted 6 Aug 2024
The U.S. Securities and Exchange Commission (SEC) asked the court to reject Coinbase's request for a broad range of documents related to crypto assets. The regulator argues that it has already provided all necessary documents, including relevant notices and materials from investigations unrelated to the case against Coinbase, and that the remaining documents are not relevant.
Coinbase continued to press the SEC to conduct a sprawling search of all agency records—including all internal files and all communications with government agencies and market participants,the Commission stated in its letter to the court.
The SEC also contends that Coinbase has not supported its request with any legal principles or precedents from previous cases.
In response, Coinbase's Chief Legal Officer, Paul Grewal, argued that these documents illustrate the Commission's conflicting views on digital assets and its own authority. He believes that companies regulated by the SEC are entitled to transparency from the regulator.
Recently, Coinbase also asked the court to allow its lawyers access to letters from SEC Chair Gary Gensler, but this request was denied.
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