SEC Fights Coinbase’s Request To Review Gensler’s Crypto Related Emails
Summary
The SEC filed a memorandum opposing Coinbase's extensive discovery demands, including personal crypto-related emails by chairman Gary Gensler, characterizing them as overly broad and burdensome. The SEC asserts that the core issue is whether Coinbase failed to register its operations while conducting activities falling under securities laws. It argues against the relevance of its internal operations and communications to the case. The SEC warns that fulfilling Coinbase's demands would strain resources and set a precedent for regulatory bodies. Coinbase's CLO criticized the SEC's response, emphasizing the need for transparency in the SEC's regulation of digital assets. COIN traded at $189.47 at press time.
