2024

Chair

Gary

when

Judge Katherine Polk Failla of the U.S. District Court has set the stage for a legal battle between the U.S. Securities and Exchange Commission (SEC) and Coinbase on whether SEC Chair Gary Gensler’s private communications on cryptocurrency matters should be disclosed in the ongoing legal dispute.
During a hearing on July 11, Judge Faila instructed both parties to submit arguments by July 15 about whether Gensler’s personal conversations are relevant to the case.
According to Inner City Press report, Coinbase’s legal team is seeking access to data from Gensler’s personal devices, arguing that the SEC has not provided enough guarantees in terms of his chats with market makers.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Coinbase's lawyer: We're unable to get information from the SEC… The time period before, we included because we tried to engage with Mr. Gensler and the SEC, but they've refused to say he didn't use his personal device to communicate about crypto— Inner City Press (@innercitypress) <a href="https://twitter.com/innercitypress/status/1811466695715770603?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 11, 2024</a>
 </blockquote>
 </div>
</figure>
“We’re unable to get information from the SEC. The time period before, we included because we tried to engage with Mr. Gensler and the SEC, but they’ve refused to say he didn’t use his personal device to communicate about crypto.” Coinbase Lawyers stated.
On the other hand, the SEC’s attorneys are trying to block the subpoena for Gensler’s conversations. They argue that Gensler is neither a fact witness nor an expert witness in the Coinbase case, implying his private chats aren’t relevant.
However, Judge Failla expressed doubts about Coinbase’s arguments but agreed to consider them. She noted, “I do not find that argument persuasive. Just keep that in mind.” Despite her reservations, she instructed both sides to submit letters outlining their positions.
This dispute is part of the wider discovery process in relation to the SEC’s enforcement action against Coinbase filed in June 2023 when the SEC claimed Coinbase allegedly acted as an unregistered securities broker since 2019., which violates U.S. securities law.
Earlier this month, Coinbase initially asked for <a href="https://www.cryptotimes.io/2024/07/04/coinbase-challenges-sec-on-gensler-communication-discovery/" rel="noopener noreferrer nofollow">access to Gensler’s communications</a> from his personal devices, alleging that he expressed views and communicated with market makers personally. The discovery request seeks email conversations and documents related to Gensler’s crypto opinions dating back to 2017.
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 Also Read: <a href="https://www.cryptotimes.io/2024/07/03/ripple-coinbase-cite-binance-ruling-in-sec-disputes/" rel="noopener noreferrer nofollow">Ripple &amp; Coinbase Cite Binance Ruling in SEC Disputes</a>
</blockquote>

Judge Demands SEC and Coinbase Debate on Gensler’s Crypto Chats

The Crypto Times

Các bài viết khác được xuất bản trên 11 thg 7, 2024

Buyer of Oil King Pepe (OILPEPE) Solana Memecoin Makes 6,500% Profit But Waits For Another 20,000...

Cardano-Powered Game Chronoshot Hits Epic Games Store Wishlist – Can it Propel ADA Price to New ATH?

BlockDAG Aims For $30 by 2030 as Cardano Price Forecast Remains Uncertain Amid Optimism Liquidati...

Early Launch Of BlockDAG X1 Miner App, Spurring 1300% Growth; ONDO Trading Faces Hurdles While Th...

Cryptocurrency Sui Rises More Than 5% In 24 hours

CFTC Chair: Illinois Court Affirms Bitcoin And Ethereum As Commodities, 80% Of Cryptos Are Not Se...

Tham gia bản tin miễn phí của chúng tôi để cập nhật tin tức về tiền điện tử hàng ngày!