While the smoke removes itself newly fallen case of implementationCoinbase demands the US Securities and Exchange Commission coughing up a record of its expenditure on investigations and actions against the broader industry in recent years
The biggest exchange of US crypto is to submit a request to the Freedom of Information Act – using the contractors history of Associates Inc. – To obtain internal accounting agency for the cost of the implementation campaign involving digital business assets. The document has been seeking total costs for investigations and implementation actions over the past four years; a list of targeted companies; the number of employees and contractors working in cases; and financial information about the operation of the crypto implementation unit of previous leadership.
The SEC has been under the new management since the inauguration of President Donald Trump, who has raised commissioner Mark Uyeda to become chairman of acting. Uyeda started a Dramatic Reversal of the agency’s crypto stance.
“We ask the SEC to make this information voluntarily and subject to their obligations to FOIA, without making Coinbase or anyone else to go to court to get what we think Americans should know,” Coinbase Chief Legal Legal Officer Paul Grewal said in an interview with CoinDesk.
Coinbase is chased the SEC to the federal court before In public-record disputes, and the company’s efforts to disclose communications regarding the crypto administration regulator discussion is still an active case.
Although the agency released digital assets business from implementation cases, some in the industry called for the SEC to pay more harshly for the way it handled the sector under the chair Gary Gensler, along with requests to burn more staff involved. Grewal insists that the request of these records is not revenge but transparency about what happened is required.
“It’s not just about Coinbase or any person who takes a success to the lap or trying to rub the SEC or any person in their entry that the last four years is a mistake,” he said. “It’s more about studying the lessons of history so that we don’t repeat them.”
While the public has the right to look at government documents, the process for obtaining them often runs on agency roads and can take months or years. And the SEC can mention exceptions that include outstanding cases, which still includes a number of crypto objects involving companies such as Kraken, Ripple and Crypto.com. But Grewal said closed cases such as Coinbase’s and many other companies that are getting good news in recent days should be available to scrutinizing.
“Let’s get the facts on the table,” Grewal said. “We tally up what the costs are. Let’s consider if there are some benefits that should be measured as well. And then let’s decide, is this what we want for our country and for our economy, and how can we ensure the rules to ensure that it never happens?”
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