Coinbase submitted a request for the Freedom of Information Law (FOIA) to search for information about the SEC and Stock Exchange Committee spending on the implementation procedures against encryption companies during the Biden administration.
Coinbase is looking for details about the cost of the SEC encryption war
On Monday, Paul Ghrouwal, Coinbase's chief official (CLO), announced that the company has submitted the FOIA request to the Supreme Education Council asking about the extent to which the organizational agency has spent on the enforcement procedures related to encryption. In the post, the exchange of encryption requested information about the amount of money costing by the “SEC” approach by enforcement “in taxpayers”.
Coinbase's CLO announces FOIA request. Source: Paul Grewal on X
After reviewing many Congress reports available to the public, including justifying the Congress budget in the 2025 fiscal year (CBJ) and the annual report for the 2023 fiscal year (APR), Coinbase is looking for supportive documents used to create current and previous annual reports.
In the threat of X, Grewal has placed a sign of the US government efficiency Ministry led by Elon Musk (DOGE) and explained that the company is seeking answers to the number and cost of investigations related to encryption and enforcement procedures that were brought between April 17, 2021 and January 20, 2025.
Coinbase requested the number of employees and third -party contractors who worked on these investigations and enforcement procedures. In addition, the company wants to “know more about” encryption assets “and the previous cyber internet unit in the enforcement department.”
Coinabse requests information on the number of employees and third-party contractors used on crypto-related cases. Source: Office of FOIA Services
It should be noted that the UNHCR has been subjected to major changes since the new administration took office. Al -Batekoine also reported, some sources close to this issue have told the New York Times that the organizational agency is expanding the scope of the Special Enforcement Department by resetting its members to other SEC sections.
The special unit, which was established in 2017 during the first Trump administration, was composed of lawyers and employees dedicated to providing the enforcement procedures related to the industry. Under the supervision of Gary Ginsner, the encryption enforcement unit has expanded significantly, with nearly 50 custom jobs in May 2022. During the Biden administration, it was reported that the unit brought more than 100 encoding measures.
It may take some time to get the “full picture”
After the departure of Jinsler from the Supreme Education Council and under the new friendly administration, the committee took steps to change its advanced approach and be more welcome in this industry.
On January 21, the US agency launched the encryption workplace, led by SEC Hester People, to develop a clear and comprehensive organizational framework. Since then, the committee has rejected many major coding claims and closed many investigations on encryption companies without taking any enforcement measures.
Last week, the Supreme Education Council fell a lawsuit against Coinbase after announcing its plan to reject the case on February 21. At that time, the company's leadership described the development of “not only in favor of Coinbase, but for our customers, the United States, and individual freedom.”
Grewal called for clear legislation to encrypt to prevent “rogue attacks” and noted that the Supreme Education Council is responsible for previous enforcement issues driven by the political leadership.
In the last X thread, Coinbase's Clo concluded that “it may take some time to get the full image” War on Crypto “. Customers and encryption community have promised” never to stop fighting for government transparency “, and” doing what it takes as long as it takes “to reveal the truth.
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