While smoke is clearing up on its own newly abandoned case, Coinbase requires that the American Commission on Securities and Exchange has recruited a record for its expenses in surveys and actions against the broader industry in recent years
The greatest exchange of American crypto files a law on freedom of information – using its entrepreneur History Associates Inc. – to obtain internal agencies which explain the costs of its application campaign involving digital asset companies. The document requires total costs for surveys and implementing measures in the past four years; a list of targeted companies; the number of employees and entrepreneurs working on cases; and financial information on the functioning of the application for the cryptography of previous leadership.
The Sec has been under a new direction since the inauguration of President Donald Trump, who raised Commissioner Mark Uyeda to be acting president. Uyeda began a spectacular reversal of the agency’s cryptographic position, replacing legal officials, by expanding investigations and rejecting long -standing judicial affairs, including that against Coinbase.
“We ask the dry to produce this information voluntarily and submitted to their obligations, without doing Coinbase or whoever has to go to court to obtain what we think that the American people deserves to know,” said Coinbase Legal Director Paul Grewal, in an interview with Coindesk.
Coinbase has already continued the SEC before the Federal Court on the disputes of public records, and the efforts of the company to reveal communications on the internal discussions of the regulator on cryptographic surveillance are always an active case.
Even if the agency has released digital asset companies from application cases, some in the industry have called for the dry to pay more severely how it managed the sector under President Gary Gensler, including dismissal requests more staff involved. Grewal insisted that this request for files is not reprisals, but that the transparency of what happened is necessary.
“It is not only a coinbase or anyone taking a victory tour or trying to rub the dry or someone else’s nose in their admission that the last four years have been a mistake,” he said. “It is much more about learning the lessons of history so that we never have to repeat them.”
Although the public has the right to see government documents, the process for obtaining them often comes up against road roadblocks and can extend in months or years. And the SEC can cite exceptions that include remaining active cases, which still include a number of cryptographic questions involving companies such as Kraken, Ripple and Crypto.com. But Grewal said that closed cases such as Coinbase and the many other companies obtaining good news in recent days should be available for a meticulous examination.
“Let’s go on the table,” said Grewal. “Let’s continue the costs. Let’s see if there have been advantages that should also be measured. So decide, is that what we want for our country and for our economy, and how to develop rules to ensure that this does not happen again?”
Read more: the American regulator told banks to avoid crypto, the letters obtained by Coinbase Reveal
