As smoke disappears in a newly abolished enforcement case, Coinbase is asking the US Securities and Trade Commission to cough with records of spending on investigations and actions on the wider industry in recent years.
The largest crypto exchange in the United States is to submit a Freedom of Information Act request using contractor History Associates Inc. to acquire internal agencies taking into account the costs of enforcement campaigns involving digital asset companies. The document seeks the total cost of investigations and enforcement measures over the past four years. A list of target companies. The number of employees and contractors working on the case. Financial information on the operations of previous leadership crypto-enforcement units.
The SEC has been under new control since President Donald Trump took office, and has promoted Commissioner Mark Weda to acting chairman. Uyeda launched a dramatic reversal of the agency’s crypto stance, resigning the investigation on behalf of the justice officer and dismissing long-term court cases, including those against Coinbase.
“We are asking the SEC to voluntarily generate this information and be subject to FOIA obligations, without having Coinbase or anyone else go to court,” Coinbase Chief Legal Officer Paul Grawal said.
Coinbase has previously pursued the SEC of federal courts in public disputes, and the company’s efforts to clarify communications regarding internal regulatory debates regarding crypto surveillance remains an active case.
Even if agents release their digital asset businesses from the execution case, some people in the industry are asking the SEC to pay more stringently for the way in which the sector is handled under Chair Gary Gensler, including a request to fire more staff involved. Grewal argued that the record request was not retaliatory, but that transparency about what happened was necessary.
“This isn’t just about Coinbase or someone else taking a victory lap or trying to rub the SEC or others’ noses on charges that the last four years have been a mistake,” he said. “This is about learning history lessons and making sure we don’t have to repeat them.”
The public has the right to view government documents, but the process of obtaining them often encounters disability at agents and can last for months or years. The SEC can quote exceptions that include cases that remain active, including many cryptographic issues involving companies such as Kraken, Ripple, and Crypto.com. But Grewal said there have been cases of closed cases such as Coinbase and many other companies, and recently there have been good news.
“Let’s get the facts on the table,” grewal said. “Let’s tally what the costs are. Let’s consider whether there are benefits to measure, and then let’s decide what this is necessary for our country and our economy.
Read more: US regulators asked banks to avoid the characters obtained by Coinbase’s publication
