Judge Sends Coinbase Back to the Drawing Board Over Efforts to Subpoena SEC’s Gary Gensler
Summary
A federal judge urged Coinbase to drop or modify its subpoena for SEC Chairman Gensler's personal communications. The judge found Coinbase's arguments "fatuous" and expressed strong views against the request. The SEC argued that Gensler's pre-chair communications were irrelevant and intrusive. The judge suggested Coinbase file a motion to compel and work through the process. The SEC called the subpoena an improper intrusion and urged the court to quash it. Coinbase argued that Gensler's private communications are relevant to understanding regulatory status. The judge scheduled a hearing for further proceedings.
