In a striking bid for transparency, leading cryptocurrency exchange Coinbase is stepping into the ring with the Securities and Exchange Commission (SEC), demanding clarity on taxpayer spending under former SEC Chair Gary Gensler’s leadership. The exchange has submitted a formal Freedom of Information Act (FOIA) request aimed at uncovering the details behind the SEC’s enforcement expenditures related to the crypto sector. This move comes amid growing concerns that aggressive regulatory actions may have stifled innovation within the blockchain realm. Will this call for financial transparency yield the answers needed to reassess the SEC’s approach, or will it open a Pandora’s box of scrutiny for one of the most controversial periods in crypto regulation? Click here to LEARN MORE.
Key Notes
- Coinbase is demanding that the SEC reveal how much taxpayer money was spent on crypto enforcement under Gary Gensler’s leadership.
- The exchange has filed a FOIA request seeking details on the SEC’s spending on crypto-related investigations and enforcement actions.
- Coinbase claims these details were missing from documents provided to Congress and is willing to cover processing fees to obtain them.
Leading US cryptocurrency exchange Coinbase is demanding that the Securities and Exchange Commission (SEC) disclose how much taxpayer money was spent on crypto enforcement under its previous leadership. The exchange has filed a formal request seeking transparency on the financial burden of regulatory actions taken during former SEC Chair Gary Gensler’s tenure, which ended in January 2025 following President Donald Trump’s inauguration.
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