TechFlow news: Coinbase Chief Legal Officer paulgrewal.eth tweeted that in the Coinbase lawsuit, the U.S. Securities and Exchange Commission (SEC) has moved to block Coinbase's request to make public its communications with Gary Gensler.
paulgrewal.eth explained that in March 2021, Gensler told Congress that the SEC lacked regulatory authority over digital asset trading platforms, confirming the long-standing view among market participants that digital asset trading on such platforms falls outside the scope of securities laws. As a prominent professor of blockchain technology, and later as Chairman of the SEC speaking in his personal capacity, Mr. Gensler has made numerous other public statements on this issue. Coinbase has requested documents from Mr. Gensler regarding these communications, as they are relevant to demonstrating how the SEC's enforcement actions violate constitutional due process requirements, but both the SEC and Mr. Gensler have attempted to prevent disclosure of these documents.
