Coinbase submits FOIA request, requesting SEC to disclose Gensler's enforcement expenses in the cryptocurrency industry during his tenure

Fox Business News reporter Eleanor Terrett posted on X platform that Coinbase has submitted a Freedom of Information Act (FOIA) request to the US Securities and Exchange Commission (SEC) to disclose the SEC's non fraud investigation and enforcement expenses against the cryptocurrency industry during former chairman Gary Gensler's tenure. The request covers the period from April 17, 2021 to January 20, 2025, involving regulatory enforcement actions such as digital asset sales, secondary market transactions, pledges, and lending. Coinbase hopes to obtain detailed information on the number and names of relevant investigations and lawsuits, as well as the working hours, salaries, and budgets of SEC employees and outsourcing personnel, and the cryptocurrency and cybersecurity department. Coinbase Chief Legal Officer Paul Grewal stated that this measure aims to enhance regulatory transparency and hopes that the new leadership of the SEC can strengthen accountability. However, the SEC has not yet responded to this.