Coinbase has filed a FOIA request to gather data on SEC's spending on crypto regulation.
Coinbase's Request for SEC Expenditure Information
The request seeks to reveal SEC's spending on investigations and enforcement actions related to the crypto industry over the past four years. Coinbase is interested in the total costs, the list of targeted companies, the number of employees and contractors, and financial details of the now-defunct SEC Crypto Assets unit.
SEC's Legal Battles with Crypto Companies
The SEC has intensified its scrutiny of the crypto industry under the Biden administration, filing lawsuits against firms like Coinbase, Binance, and Kraken, arguing that digital assets should be registered as securities.
Coinbase's Response to SEC Actions
Coinbase has repeatedly challenged the SEC's stance, accusing the agency of stifling innovation and harming the U.S. economy. The FOIA request is an attempt to gain transparency regarding the allocated resources.
Coinbase's FOIA request aims to achieve greater transparency from the SEC regarding the costs associated with crypto investigations, potentially impacting future legal proceedings.
