Coinbase Demands Access to Gary Gensler’s Emails

Coinbase is demanding access to SEC Chairman Gary Gensler’s emails, which the crypto exchange’s lawyers say is crucial to its defense in court.

Why Coinbase Needs Gensler’s Emails

Coinbase responded to the SEC’s petitionin which the regulator asks the court to block access to a “reasonable investigation” into Gensler’s emails. In a statement, the exchange’s general counsel Paul Grewal emphasized that any legal process must be as transparent as possible.

Earlier in June, Coinbase demandedso that the SEC provides all documents regarding the legal status of cryptocurrencies. The trading platform also requested access to Gensler’s personal correspondence to verify what views he actually holds regarding digital assets.

Coinbase Doesn’t Give Up

The SEC has rejected a demand to provide private communications. The commission accused the exchange of “unlawfully intruding into the privacy of a government employee.” However, Coinbase is not going to give up.

On July 3, the crypto exchange filed a counter-affiliation, calling Gensler’s emails “a proper source of information.” The exchange says the SEC chairman’s private comments on the regulatory status of cryptocurrencies are essential to an objective understanding of what actions the securities law prohibits.

Last week, Coinbase filed two lawsuits at once: against the SEC and the Federal Deposit Insurance Corporation (FDIC). The crypto platform claims that US regulators are exceeding their authority by unfairly targeting crypto projects.

For two years now, Coinbase has been actively pushing for authorities to develop clear regulations for the crypto market. In July 2022, the trading platform sent a corresponding petition to the SEC, and in April 2023, it went to court because no response was received from the Commission.

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