The Crypto Exchange Coinbase is seeking to discover how much the US Securities and Exchange Commission (SEC) has spent on the action of implementing against crypto companies.
Coinbase Chief Legal Officer Paul Grewal said on a March 3 statement In X that the request under the Freedom of Information Act (FOIA) is submitted In the SEC to find out how many investigations and actions implemented were brought against crypto companies between April 17, 2021, until January 20, 2025.
The Crypto exchange Also looking for information about how many employees worked on implementation actions, how many third-party contractors were used, and how much it costs.
Source: Paul Grewal
“We know the previous regulation of SEC-by-implementation regulation is worth changing Americans, global leadership, and jobs, but how much does the taxpayer’s dollar cost?” Grewal said.
“We also want to know more about the harmful assets of the SEC and Cyber Unit crypto assets within the Enforcement Division – what is their budget, how many employees have worked here, how much do those employees cost?”
Cyber crypto assets and cyber units, formed in 2017, have brought implementation actions against fraudulent and unregistered crypto asset offerings and platforms. Replaced the unit of Cyber and emerging unit of technology (Cept) in February. 20.
Grewal said as it could take the time to “get the whole picture,” the crypto exchange is happy to “do what is necessary as needed” to get the requested information.
Coinbase wants to know how many employees have worked on the actions of the SEC implementation against crypto exchanges and how much taxpayer costs. Source: Office of FOIA services
A SEC spokesperson refused to comment.
Former SEC chair Gary Gensler, known for his hardline stance in crypto regulation, resigned on January 20, 2025.
While on the rudder of the regulator, which began in 2021, the SEC took the aggressive bearing regulation toward cryptocarrying up 100 regulatory actions against companies.
Related: SEC has dropped the investigation into the NFT Marketplace Opensea
Gensler left the same day that crypto-friendly Donald Trump began his second term of president as president of the United States. Trump Promised to burn Gensler When elected.
Following Gensler’s release, the SEC was selected from a swathe of suits against crypto companies.
Coinbase is Filed by Sec In June 2023, allegedly the exchange was not registered as a broker, national security exchange, or agency.
The action fell in February. 27, when the SEC came up Voluntarily reject all the trial tied to Coinbase and Coinbase Global By tilting, permanently ending the case.
SEC has lowered it Lawsuit against Crypto Exchange Kraken On March 3, complying with a raft of other dismissal, reported that included in the incompatible token (NFT) Conglomerate yuga labs on the same day and Crypto Exchange Gemini In Feb. 26.
It also completed its recent investigation Unswap labsthe developer behind the uniswap decentralized exchange and online Brokerage Robinhood Cryptowho received a notice of Wells on May 4.
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