{"id":48473,"date":"2025-03-03T15:40:00","date_gmt":"2025-03-03T15:40:00","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/coinbase-asks-sec-for-breakdown-of-cost-of-genslers-war-on-crypto\/"},"modified":"2025-03-03T15:40:00","modified_gmt":"2025-03-03T15:40:00","slug":"coinbase-asks-sec-for-breakdown-of-cost-of-genslers-war-on-crypto","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/coinbase-asks-sec-for-breakdown-of-cost-of-genslers-war-on-crypto\/","title":{"rendered":"Coinbase asks SEC for breakdown of cost of Gensler\u2019s war on crypto"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div data-site=\"CoinJournal\">\n<div class=\"-mt-16  mb-8  lg:-mt-20  rounded-md  shadow-md\">\n<div class=\"relative  z-10  post-article-image  rounded  overflow-hidden\" data-site=\"CoinJournal\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/07_Washington-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/07_Washington-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/07_Washington-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/07_Washington-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                            <\/div>\n<\/p><\/div>\n<ul>\n<li>Coinbase goes after SEC for details on cost of war on crypto.<\/li>\n<li>The exchange has filed a FOIA request asking for SEC\u2019s documents during the leadership of former SEC chair Gary Gensler.<\/li>\n<\/ul>\n<p>Coinbase has filed for a Freedom of Information Act (FOIA) request that seeks a detailed breakdown of what the US Securities and Exchange Commission (SEC) spend on its \u201cwar on crypto.\u201d<\/p>\n<p>Specifically, the crypto exchange\u2019s FOIA wants it made public just how much the <a href=\"https:\/\/coinjournal.net\/news\/tag\/sec\/\">SEC<\/a> splashed as part of its regulation by enforcement approach to crypto between April 2021 and January 2025.<\/p>\n<p>Coinbase outlines what it seeks in a <a href=\"https:\/\/assets.ctfassets.net\/sygt3q11s4a9\/52T2nR85KGBesqIXT0YrWH\/9286453a94bd6f2711dd308d0b6b0824\/2025_03_03_FOIA_Request_to_SEC__IV_.pdf\" target=\"_blank\" rel=\"noopener\">filing<\/a> on Monday, March 3, 2025.<\/p>\n<h2>What else is Coinbase seeking via this FOIA request?<\/h2>\n<p>The exchange wants to know how much the SEC spent on investigations, lawsuits and enforcement unit employees. Per the request, the regulator should provide the costs involved as it pursued digital asset related cases, secondary transactions, and staking and lending providers.<\/p>\n<p>\u201cWe know the previous SEC\u2019s regulation-by-enforcement approach cost Americans innovation, global leadership, and jobs, but how much did it cost in taxpayer dollars? Today, Coinbase submitted a FOIA request asking the SEC to explain how much its war on crypto cost taxpayers,\u201d Coinbase chief legal officer Paul Grewal noted.<\/p>\n<p>He added:<\/p>\n<p>\u201cWhat do we hope to find out? How many investigations and enforcement actions were brought \u2013 and how much they cost; how many employees worked on these investigations\/enforcement actions \u2013 and how much they cost; how many third-party contractors were used in these investigations\/enforcement actions \u2013 and how much they cost,\u201d the Coinbase CLO added in a post on X.<\/p>\n<p>The request comes amid a recent spree of announcements regarding the SEC\u2019s dropping of several crypto cases and investigations. It includes the regulator\u2019s lawsuit against Coinbase and the crypto exchange <a href=\"https:\/\/coinjournal.net\/news\/sec-drops-investigation-against-gemini-no-action-taken\/\">Gemini<\/a>.<\/p>\n<p>SEC, under a new leadership following Gary Genser\u2019s exit in January 2025, has also closed investigations against Opensea, Robinhood, <a href=\"https:\/\/coinjournal.net\/news\/sec-drops-case-against-uniswap-marking-a-huge-win-for-defi\/\">Uniswap<\/a> and <a href=\"https:\/\/coinjournal.net\/news\/sec-drops-its-case-against-metamask-consensys-says\/\">MetaMask<\/a>.<\/p>\n<p>According to Grewal, the FOIA request is down to the need for transparency, with American taxpayers having the right to know. Coinbase believes the current SEC leadership will provide the information.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/coinbase-asks-sec-for-breakdown-of-cost-of-genslers-war-on-crypto\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Coinbase goes after SEC for details on cost of war on crypto. The exchange has filed a FOIA request asking for SEC\u2019s documents during the leadership of former SEC chair Gary Gensler. Coinbase has filed for a Freedom of Information Act [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":48474,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/48473"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=48473"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/48473\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/48474"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=48473"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=48473"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=48473"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}