TechFlow reported on October 15 that, according to The Block, cryptocurrency exchange Coinbase has filed a motion for partial summary judgment in the U.S. District Court for the District of Columbia, seeking documents from the Securities and Exchange Commission (SEC) regarding how securities laws apply to cryptocurrencies.
Coinbase Chief Legal Officer Paul Grewal stated that while the SEC initially claimed exemption from the Freedom of Information Act (FOIA), it recently acknowledged this may not be true. Currently, the SEC says it would take three years to produce the documents requested by Coinbase.
Previously, in June 2024, Coinbase sued the SEC and the Federal Deposit Insurance Corporation (FDIC) for failing to comply with its FOIA requests. Coinbase is seeking internal and external communications from the SEC about whether certain crypto assets—specifically Ethereum—are classified as securities.
