Krutika Adani
Last year, the SEC filed a case against Coinbase, alleging the latter had operated an unregistered crypto exchange in the US.
Coinbase had subpoenaed the SEC, demanding documents relating to internal communications as well as public notices. The exchange demanded a total of 3 million documents.
In a pushback, the agency had filed for a dismissal of the exchange’s requests.
As per the SEC, there was no relevance between the discovery documents requested by Coinbase in this case.
The courts had also previously questioned a demand from Coinbase, citing the reasons as unimpressive.