Coinbase has formally requested disclosure of the details of the Securities and Exchange Commission’s (SEC) supervisory costs related to investigations and enforcement actions unrelated to fraud in the digital currency sector during Gary Gensler’s presidency. The request, covering the period from April 2021 to January 2025, aims to shed light on the costs associated with SEC’s supervisory actions in the digital currency industry. Paul Grewal, Coinbase’s legal chief, stated in a series of posts on the former social network X (formerly known as Twitter): ‘We are aware of the negative impact of the regulatory approach through the previous SEC execution on innovation, global leadership, and employment in the US, but the question is how much of taxpayers’ money has been spent on this approach?’ Coinbase, in this request, seeks complete transparency regarding investigation details, employee working hours, payments, and budget allocation.
