When smoke clears on his own newly dropped enforcement case requires coinbase,
The largest American crypto exchange is to submit a request for freedom information – using its entrepreneurial history Associates Inc. – To get internal agency that accounts for the cost of its enforcement campaign involving digital assets businesses. The document seeks total costs for investigations and enforcement measures in the last four years; A list of targeted companies; The number of employees and contractors working on the cases; and financial information on the operation of the former management Crypto Enforcement Unit.
SEC has been under new leadership since the inauguration of President Donald Trump, who increased commissioner Mark Uyeda to be acting chairman. Uyeda began a dramatic reversal of the agency’s crypto attitude, replaced legal officials, sniffed investigation and rejected long-running litigation, including the against coinbase.
“We are asking SEC to produce this information voluntarily and subject to their FOIA obligations without doing Coinbase or anyone else has to go to court to get what we think the American people deserve to know,” Coinbase Head of Legal Officer Paul Grewal said in an interview with Coindesk.
Coinbase has been pursuing SEC in the federal court before on disputes for public records, and the company’s efforts to reveal communication about the regulator’s internal discussions about crypto supervision are still an active case.
Even as the agency has released digital assets companies from enforcement cases, some in the industry have called on SEC to pay more hard for the way it handled the sector under President Gary Gensler, including requests to shoot more staff involved. Grewal insisted that this request for registration is not retaliation, but that transparency about what happened is necessary.
“This is not just about coinbase or anyone else taking a victory meat or trying to rub Sec or others’ nose in their admission that the last four years were a mistake,” he said. “This is much more about learning the lessons of history so we never have to repeat them.”
While the public has the right to see government documents, the process to get them often run into the agency’s roadblock and can extend for months or years. And SEC may mention exceptions that include cases that are remaining active that still include a number of crypto questions involving companies such as Kraken, Ripple and Crypto.com. But Grewal said that closed cases like Coinbase and the many other companies that are getting good news in recent days should be available for control.
“Let’s get the facts on the table,” Grewal said. “Let’s match what the costs were. Let’s consider if there were any benefits that should also be measured. And then let’s decide, that’s what we want for our country and for our finances, and how do we create rules to make sure this doesn’t happen again?”
Read more: US regulator said to banks to avoid crypto, letters obtained by Coinbase Reveal
