hold or not - Judge Denies Coinbase Subpoena Request for Gensler's Communications, Lawsuit Continues

BTC $56918.165 -1.24%

ETH $3080.574 0.01%

BNB $520.452 -0.73%

XRP $0.451 2.36%

BTC ETH BNB ADA SOL AVAX DOGE LINK TRX

USD EUR GBP JPY AUD CAD CHF CNY

Convert

LIVE UPDATES • SEC Crypto Accounting Guidelines Relaxed for Some Companies • New OKX European Hub Will Be Malta To Strictly Comply With MiCA Framework • Judge Denies Coinbase Subpoena Request for Gensler’s Communications, Lawsuit Continues • Pendle Domain Hijacking Be Warned, User Funds Are Safe • A DNS Attack On Squarespace Puts Crypto Domains At Risk, Says CoinGecko COO • BlockDAG’s Dev Release 70 Highlights X1 Miner’s Upgrades as App Goes Live on Apple Store; Presale Value Surges by 1300% • BNB Chain Hack Loses $1.6B, Immunefi Investigation Unveils! • US Lawmakers Demand Release Binance Executives by Nigerian Government! • Tether USDT Redemptions Will Be Stopped on Multiple Blockchains in 2025 • Hamster Kombat Second Airdrop Will Be Launched In The Next 2 Years

News Judge Denies Coinbase Subpoena Request for Gensler’s Communications, Lawsuit Continues 2 hours ago - Around 3 mins mins to read

Key Points:

Judge Failla denied Coinbase subpoena request for SEC Chair Gary Gensler’s communications, deeming their arguments speculative.

The SEC argued the subpoena was an improper intrusion, emphasizing the case concerns the agency’s actions, not Gensler personally.

U.S. District Judge Katherine Polk Failla ruled against Coinbase subpoena request for U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler.

Read more: Coinbase Responded to the SEC’s Actions To Prevent “Dies in Darkness” in the Lawsuit

Judge Denies Coinbase Subpoena Request for SEC Chair

Coinbase sought extensive information related to digital assets and cryptocurrency exchange registration, covering communications from 2017 to the present. The request came after a judge allowed the SEC’s case against Coinbase to proceed on most charges.

Coinbase subpoena request aimed to obtain Gensler’s comments, arguing the need to verify that he did not use personal devices or email accounts for official communications. The SEC, however, filed a protective order, contending that the subpoena should target the agency, not Gensler personally, labeling it an “improper intrusion.”

Judge Failla found Coinbase’s arguments speculative and unconvincing, noting the difficulty in obtaining Gensler’s pre-chair statements. She acknowledged Coinbase’s concerns, expressing discomfort with potential stonewalling, but emphasized the speculative nature of their claims.

SEC lawyer Jorge Tenreiro described Coinbase’s request as intrusive, arguing that the proceedings concern the SEC’s actions, not Gensler’s personal communications. He asserted that Gensler is neither a fact witness nor an expert on the law, urging the court to quash the Coinbase subpoena request.

Failla agreed with Tenreiro, highlighting the undue burden of probing Gensler’s pre-chair statements. Coinbase compared their situation to the SEC’s case against Ripple, where the court ordered the discovery of communications involving former SEC Chair Jay Clayton. However, Tenreiro noted the SEC had sought to limit Ripple’s access to certain information.

Coinbase Faces SEC Lawsuit Over Unregistered Operations

Coinbase’s ongoing legal battle includes 33 requests for SEC documents and communications. The SEC’s lawsuit, initiated in June 2023, accuses Coinbase of operating as an unregistered exchange, broker, and clearing agency, and engaging in unregistered securities offerings through its staking services.

Despite the setback, Failla indicated that she expects future motions from Coinbase with her continued involvement in the proceedings.

Coinbase Coinbase Subpoena Request Gary Gensler Ripple SEC

Author Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

Related Posts

Circle Stablecoin EURC Will Be Launched on Layer 2 Base Network German Bitcoin Sell-Off Sees 10,853 BTC Transferred In 12 Hours Ether.fi Season 2 Airdrop Claim Will Be Postponed to July 6 High Court Freezes Craig Wright Assets, Orders £1.548M Payment Of Legal Fees New Paxos Singapore Executive Director Appointed to Enhance Market Expansion Bitcoin Spot ETFs See $216M Net Inflow, BlackRock and Fidelity Lead Gains! US Core CPI Data Shows Inflation Cooling, Bitcoin Backs Above $59,000 Former Northern Data Executives Accuse Tether-Backed Company of Fraud

News

Judge Denies Coinbase Subpoena Request for Gensler’s Communications, Lawsuit Continues