News View Non-AMP

Coinbase Takes Action: Motion Filed for Access to SEC Documents Amid Legal Battle

Published by
Anjali Belgaumkar

Coinbase has taken a major step in its ongoing lawsuit against the U.S. Securities and Exchange Commission (SEC) by filing a motion for partial summary judgment.

This legal conflict arises from the SEC’s denial of requests made under the Freedom of Information Act (FOIA) by History Associates, a firm Coinbase hired to clarify the SEC’s position on digital assets. Coinbase’s motion was submitted in a Washington, D.C. court, asking a judge to rule in its favor and allow access to the requested documents.

Contextually, both the SEC and the Federal Deposit Insurance Corporation (FDIC) denied Coinbase’s FOIA requests in 2023, citing one or more of the nine legal exemptions available under the FOIA. 

According to Coinbase’s legal team, the SEC has been obstructing efforts to obtain these documents through FOIA requests. The exchange claims that the SEC is now asking for a three-year grace period to determine if the documents can be released. 

Coinbase argues that the requested documents are important for understanding how the SEC applies securities laws to cryptocurrency companies, as there are no clear guidelines on which tokens may be classified as securities.

Coinbase CLO Expresses Frustration: 

Paul Grewal, Coinbase’s Chief Legal Officer, expressed frustration with the SEC’s response. He stated that the SEC initially claimed the documents were exempt from FOIA, then suggested that the exemption “may” no longer apply but refused to confirm this. He called for the court to end this delay, stating that the information sought pertains to matters that belong to the public, not just the SEC.

He wrote, “Over a year ago we made FOIA requests aimed at files on ETH 2.0 and other mysteries that belong to all of us, not @SECGov. We then sued to end their stall, only to get an entirely new set of excuses. Their constantly changing story begs the ?s—what is @SECGov hiding and why?”

Anjali Belgaumkar

Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.

Recent Posts

Ripple News: Can the SEC’s April 3 Meeting Save XRP from Dropping Below $2?

XRP has shown some interesting price movements over the past 24 hours, with increased trading…

March 31, 2025

Cardano (ADA) Price Prediction for March 31

Amid the bearish market sentiment, Cardano's (ADA) price prediction has become a key topic among…

March 31, 2025

Bitcoin Price Prediction 2025: Here’s Why You Need Not Panic as BTC Price May Rebound Soon!

Bitcoin is about to close the monthly trade on a bearish note, which may hinder…

March 30, 2025

Shiba Inu Price Prediction: SHIB Flashes Green As Rexas Finance (RXS) Positions Itself For a Shocking 21450% Move

Shiba Inu(SHIB) has been making headlines, especially with its recent development. It has started flashing…

March 30, 2025

Missed Solana’s 10,000% Run? These 4 Tiny Coins Could Turn $250 Into $1 Million by June 2025

Solana experienced an extraordinary surge, leaving many wishing they had invested sooner. Now, four small…

March 30, 2025

Ethereum Loses an Important Support—Is ETH Price Heading Back to $1500?

The crypto markets have been facing a massive pullback over the past couple of days,…

March 30, 2025