Crypto Exchange Coinbase tries to discover how many American securities and stock exchanges (SEC) have been spent on enforcement activities against cryptographic companies.
Legal director Coinbase Paul Grewal said on March 3 statement to X, that the request under the Information Freedom Act (Foia) was convoluted To SEC to find out how many investigations and enforcement activities have been brought against cryptographic companies from April 17, 2021 to January 20, 2025.
Crypto Exchange is also looking for information about how many employees have worked on enforcement activities, how many contractors of other companies have been used and how much it costs.
Source: Paul Grewal
“We know that the approach to the regulation of the previous SEC in Enżyna cost innovations of Americans, global leadership and workplace, but how much did taxpayers dollars cost? “Grewal said.
“We also want to learn more about the infamous cryptocurrency assets and cybercrime of the previous SEC in the enforcement department – what was their budget, how many employees worked on how much these working hours cost?”
Cryptographic assets and the SEC cyber individual, created in 2017, brought enforcement actions against a fraud and unregistered offer and cryptocurrency platforms. The unit was replaced by Cyber and Emerging Technologies Unit (CEP) on February 20.
Grewal says that although “getting a full picture” can take some time, exchanging cryptocurrencies with joy “will do what you need, as long as it should be” to get the information requested.
Coinbase wants to know how many employees have worked on SEC enforcement activities against cryptographic exchanges and how much taxpayers cost. Source: Office of Foia Services
The SEC spokesman refused to comment.
Former SEC chairman Gary Gensler, known for his demanding position on the regulation of cryptocurrencies, resigned on January 20, 2025.
While Gensler was at the helm of the regulator, starting from 2021, Sec adopted an aggressive regulatory attitude towards Crypto, bringing 100 regulatory activities against companies up.
Related: Sec drops the investigation into the NFT OpenSea market
Gensler left the same day, when Donald Trump -friendly cryptocurrency -friendly began the second term as president of the USA. Trump promised to release Gensler if he was chosen.
After the exit of Gensler, SEC gave up the swath of processes towards cryptographic companies.
Coinbase was sued by SEC in June 2023, families that the stock exchange never registered as a broker, the National Stock Exchange or a settlement agency.
The action was rejected on February 27, when SEC agreed to voluntarily reject all disputes related to Coinbase and Coinbase Global with prejudices, ending the case permanently.
Sec abandoned a lawsuit against Crypto Exchange Kraken on March 3, which followed many dismissals, which reportedly included the Conglomerate of the tokena (NFT) Juga Laboring on the same day and Gemini of cryptographic exchange on February 26.
Recently, he also completed the investigation in the Labs Uniswap, a developer for the decentralized UNISWAP and online Robinood Crypto exchange, which received the Wells notification on May 4.
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