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Coinbase Chief Legal Officer: SEC's investigation into Ethereum 2.0 has concluded, final ruling on FOIA lawsuit may be made in 2025

Coinbase Chief Legal Officer: SEC's investigation into Ethereum 2.0 has concluded, final ruling on FOIA lawsuit may be made in 2025

CointimeCointime2024/08/09 03:33
By:Cointime

Paul Grewal, Coinbase's chief legal officer, stated on social media that the US Securities and Exchange Commission (SEC) and the Federal Deposit Insurance Corporation (FDIC) have submitted responses in a Freedom of Information Act (FOIA) lawsuit. Grewal pointed out that the SEC improperly withheld files from closed investigations (including Ethereum 2.0), while the FDIC withheld a "pause letter" warning banks to stop working with cryptocurrency companies.

It is worth noting that both agencies acknowledge that the documents Coinbase is seeking do exist, but claim they have the right to withhold them based on government privilege. The SEC further confirmed in their response that their investigation into Ethereum 2.0 has ended. Grewal expects a summary judgment procedure to take place next (which does not involve disclosure of evidence), and a final ruling may not be made until 2025. This development highlights the ongoing transparency dispute between the cryptocurrency industry and regulatory agencies, as well as the legal efforts made by companies like Coinbase to obtain critical regulatory information.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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