Coinbase secures partial victory over SEC in motion to compel discovery
Paul Grewal, Coinbase’s chief legal officer, said the SEC would be compelled to produce “important discovery” in its civil case after a judge’s order.
After a victory in federal court, lawyers for cryptocurrency exchange Coinbase may soon have access to United States Securities and Exchange Commission (SEC) documents related to the regulator’s application of tokens as securities.
In a Sept. 5 filing in the US District Court for the Southern District of New York, Judge Katherin Failla granted in part and denied in part Coinbase’s motion to compel discovery from the SEC. The exchange had been fighting with the commission since July over the scope of its request to compel the SEC to produce documents related to the regulator’s approach to digital assets.
According to Coinbase chief legal officer Paul Grewal, the Sept. 5 order would result in the SEC producing “important discovery” for the civil case. The SEC filed an enforcement action against Coinbase in June 2023, alleging the firm had been operating as an unregistered securities exchange, broker and clearing agency.
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Author: Turner Wright
