Coinbase took action on Tuesday to further its lawsuit against the US Securities and Exchange Commission for alleged Freedom of Information Act violations.
According to the most recent filing, Coinbase (and History Associates), the consulting firm Coinbase hired, are now asking for a conference before trial in order to discuss the proposed motion of partial summary judgement.
Coinbase hired History Associates to help retrieve records from SEC and FDIC in 2023. History Associates, in an attempt to obtain the records from both agencies after they refused to comply with their requests in 2024, sued them in order to enforce compliance. History Associates, the plaintiff in both cases, is Coinbase, a party that is related.
Coinbase specifically sought documents from the SEC related to three investigations: Ethereum, Zachary Coburn — the EtherDelta founder charged in 2018 for allegedly operating an unregistered exchange — and Enigma MPC. Coinbase is hoping that these documents will provide details on how the SEC classes cryptocurrencies.
History Associates’ initial complaint about the SEC investigations of Coburn and Enigma MPC is a good example. “long-closed,” So there is no need to worry “no potential interference with law enforcement activities” Should the agency give the documents?
The SEC has denied that it does not have the authority to supervise the crypto-industry. In its response to the complaint, SEC also states that it has authority over crypto industry. “did not improperly withhold any documents under FOIA.”
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The SEC announced that it would conduct another review of documents to decide if they could be made public. They cited the FOIA exempt 7(A) in 2023 as their initial exemption. “may” No longer applicable. The process would take up to three years, if History Associates did not agree to limit its request.
History Associates has said that it would ask the court to deny the SEC further time extensions in its unfiled motion for summary judgement.
Paul Grewal, Coinbase’s Chief Legal Officer, said on Tuesday that the SEC’s “constantly changing story” It raises the question as to what they actually are “hiding, and why?”
Blockworks did not receive a response from the SEC immediately after requesting a comment.
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