Coinbase narrows subpoena to access SEC Chair's private communications during tenure

• Coinbase narrows subpoena to SEC Chair Gensler's communications during his tenure.
• Judge Failla raised concerns about accessing Gensler's private chats before his SEC Chair role.
• Coinbase to file motion to compel by July 23, SEC to respond by Aug. 5.
• SEC sued Coinbase in June 2023 for alleged securities violations.
• Judge Failla dismissed some claims but allowed SEC lawsuit against Coinbase to proceed.
• The Block is an independent media outlet with financial disclosures related to crypto investments.

Summary :
Crypto exchange Coinbase has revised its subpoena to the U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler, now seeking access to his private communications only during his tenure as Chair. Initially, Coinbase wanted access to Gensler's private chats from before and during his time as SEC Chair, arguing it was crucial to understand how his views on crypto-related regulations have evolved. However, Judge Katherine Polk Failla expressed concerns about the burden of inquiry into Gensler's statements before he became Chair. Coinbase's lawyers have now decided to focus on Gensler's communications during his time as SEC Chair. The SEC sued Coinbase in June 2023, accusing the exchange of violating securities laws by listing tokens it considers securities. Coinbase argues that these tokens should not be classified as securities and fall outside SEC regulations. Coinbase's motion to compel is due on July 23, with the SEC having until August 5 to respond.

Sources :

- CoinTelegraph
- TheBlock