cyrpto Coinbase, crypto, details, files, FOIA, SEC, seeks, spending Mark March 3, 2025 0 Comments

Coinbase files FOIA, seeks SEC crypto spending details

Coinbase has filed a law on freedom of information to discover the expenses of the Securities Commission and the exchange in the United States in matters of non-trafficking cryptography surveys and law implementation measures under former President Gary Gensler.

THE requestCovering April 2021 to January 2025, seeking to shed light on the costs associated with the regulatory actions of the SEC against the cryptographic industry.

According to Paul Grewal, the legal director of Coinbase, the exchange is request transparency On the details of the survey, employee hours, remuneration and budgetary allowances. Grewal underlined the need for responsibility, especially as the SECOND transitions to a new leadership.

Coinbase pressure for government transparency

Grewal described the Coinbase objectives in a series of messages on X, questioning the financial burden of the regulatory approach to the dry on taxpayers.

“We know that the regulatory approach to the SEC cost the innovation of the Americans, world leaders and jobs, but how much did it cost taxpayers in dollars?” Grewal wrote.

He added that Coinbase aims to determine the number of surveys and measures to apply the law, the number of employees and the entrepreneurs involved and the overall expenses incurred.

A particular objective of the Foia demand is the Cryptographic assets of the dry and cyber unitA division within the application division.

We also want to know more about the infamous “cryptographic and cyber active active ingredients” of the previous dry in the application division – what was their budget, how many employees worked there, how much did these hours of employee cost? 3/4

– Paulgrewal.eth (@iampaulgrewal) March 3, 2025

Coinbase is looking for information on the budget of the unit, the number of employees and the labor costs associated with surveys related to crypto and application.

Justification of the budget of the dry under control

Coinbase demand refers to the Congress reports accessible to the Public of the SEC, including the budgetary justification of the congress and the previous performance reports of the Congress. The exchange requires support documents detailing dry expenses on digital asset surveys and application measures.

Foia demand specifically research information on application actions linked to digital asset offers, secondary market transactions, stake and loans.

Coinbase wants to assess whether the dry application tactics represented justified use of taxpayers or excessive overtaking which has stifled cryptographic innovation.

A fight for regulatory clarity

Coinbase was a vocal critic of the position of the dry on the regulation of cryptocurrencies, frequently pleading for directs clear and specific to industry rather than on monitoring focused on application.

The Foia demand marks another step in the broader effort of the company to challenge what it considers to be unjust regulatory practices.

“We will never stop fighting for the transparency of the government on behalf of our customers and this industry,” said Grewal, adding that Jamming is prepared for a long process for the requested information.