Column
March 3, 2025 9:49 PM
Coinbase is launching an investigation into the SEC's spending on crypto enforcement actions during Gary Gensler’s tenure, according to Fox reporter Eleanor Terrett. The exchange has submitted a Freedom of Information Act (FOIA) request, aiming to uncover how much taxpayer money was used in fraud investigations, secondary market crackdowns, staking probes, and lending-related enforcement.
The request demands records on the number and names of SEC investigations, the Crypto Assets and Cyber Division’s budget, and compensation for employees and contractors involved in crypto-related regulatory actions.
Coinbase’s Chief Legal Officer emphasized the need for transparency and accountability, expressing hope that new SEC leadership will take a different approach to digital asset regulation.
As of now, the SEC has not responded to the request.
Disclaimer: Backdoor provides informational content only, it is not offered or intended to be used as legal, tax, investment, financial, or other advice. Investments in digital assets involve risk, and past performance does not guarantee future results. We recommend conducting your own research before making any investment decisions.