SEC, Crypto, and Coinbase Tangle Over Enforcement Costs
by aria-crypto.com
March 4, 2025 at 11:40
SEC, Crypto, and Coinbase Tangle Over Enforcement Costs
Coinbase has launched a thorough investigation into the SEC's financial expenditures on crypto enforcement, seeking transparency about the costs borne by taxpayers due to the agency's actions. Chief Legal Officer Paul Grewal disclosed that Coinbase issued a Freedom of Information Act (FOIA) request to uncover the specifics of these expenditures, targeting the activities of the SEC's Crypto Assets and Cyber Unit. This unit, recently under scrutiny, played a significant role in leading these enforcement actions under former chair Gary Gensler's leadership. Coinbase's inquiry aims to determine the number of enforcement actions, the involved personnel and contractors, and their respective costs. Furthermore, this investigation is part of Coinbase's broader aim to enhance transparency within the crypto industry. Despite the challenges, including its own legal confrontation with the SEC, Coinbase has emerged victorious as the commission recently decided to drop the case, indicating a possible shift in approach under new SEC chair Mark Uyeda. This move by Coinbase reflects its commitment to persist in uncovering these details for the benefit of the industry and taxpayers alike.
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