Coinbase has escalated its legal confrontation with the U.S. Securities and Exchange Commission (SEC) by filing a formal motion seeking judicial intervention. The motion, submitted in federal court, alleges that the regulatory agency failed to adequately comply with Freedom of Information Act (FOIA) requests concerning missing text messages from Chairman Gary Gensler’s communications.
The exchange’s legal team is pushing for an evidentiary hearing to address what they characterize as the SEC’s insufficient response to document preservation and production obligations. Court documents indicate Coinbase is pursuing potential remedies for the agency’s alleged non-compliance with federal transparency requirements.
This development represents the latest chapter in the ongoing legal tension between America’s largest cryptocurrency exchange and its primary federal regulator. The motion specifically focuses on communications that could be relevant to understanding the SEC’s regulatory approach toward digital assets.
Legal observers note this action demonstrates how cryptocurrency firms are increasingly utilizing legal mechanisms to challenge regulatory practices. The outcome could establish significant precedent regarding federal agencies’ record-keeping obligations and transparency standards when interacting with emerging financial technologies.
