Coinbase Investigates SEC’s Crypto Spending Under Gary Gensler

In Brief

Coinbase has filed a FOIA request to determine how much the SEC spent on crypto investigations and enforcement under Gary Gensler.

The request seeks details on investigations, legal actions, and budget allocations from April 17, 2021, to January 20, 2025.

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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.

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