Coinbase Requests SEC Records on Costs of Crypto Enforcement Actions
Coinbase is requesting the U.S. Securities and Exchange Commission (SEC) to disclose its spending on investigations related to the crypto industry via a Freedom of Information Act (FOIA) request. Key points include:
- The request aims to obtain cost details for enforcement actions over the past four years.
- It seeks information on targeted companies, personnel involved, and financial data about the SEC's previous crypto enforcement unit.
- This follows a change in SEC leadership under Commissioner Mark Uyeda, who has shifted the agency's approach toward digital assets.
- Coinbase's Chief Legal Officer Paul Grewal emphasizes the need for transparency rather than retaliation.
- The request faces potential delays typical of FOIA processes, with the SEC able to cite exceptions concerning ongoing cases.
- Grewal advocates for a review of past costs and outcomes to prevent future issues in regulatory practices.
Coinbase is actively pursuing transparency regarding the SEC's historical handling of the cryptocurrency sector.