The post Coinbase files FOIA to see how much the SEC’s ‘war on crypto’ cost appeared on BitcoinEthereumNews.com.

Crypto exchange Coinbase is seeking to discover how much the US Securities and Exchange Commission spent on enforcement action against crypto firms.   Coinbase chief legal officer Paul Grewal said in a March 3 statement to X that the request under the Freedom of Information Act (FOIA) was submitted to the SEC to find out how many investigations and enforcement actions were brought against crypto firms between April 17, 2021, through Jan. 20, 2025. The crypto exchange also seeks information on how many employees worked on the enforcement actions, how many third-party contractors were used, and how much it all cost. Source: Paul Grewal “We know the previous SEC’s regulation-by-enforcement approach cost Americans innovation, global leadership, and jobs, but how much did it cost in taxpayer dollars? “ Grewal said. “We also want to know more about the previous SEC’s infamous Crypto Assets and Cyber Unit within the Enforcement Division – what was their budget, how many employees worked on it, how much did those employee hours cost?” The SEC’s Crypto Assets and Cyber Unit, formed in 2017, brought enforcement actions against fraudulent and unregistered crypto asset offerings and platforms. The unit was replaced by the Cyber and Emerging Technologies Unit (CETU) on Feb. 20. Grewal says while it may take time to “get the full picture,” the crypto exchange will happily “do what it takes for as long as it takes” to get the requested information. Coinbase wants to know how many employees worked on the SEC’s enforcement actions against crypto exchanges and how much it cost taxpayers. Source: Office of FOIA Services An SEC spokesperson declined to comment. Former SEC Chair Gary Gensler, known for his hardline stance on crypto regulation, resigned on Jan. 20.  While Gensler was at the helm of the regulator, starting in 2021, the SEC…

---

Filed under: News - @ March 4, 2025 1:28 pm