Coinbase accuses SEC of deleting messages from Gary Gensler: A new crisis of confidence?
Coinbase has just accused the U.S. Securities and Exchange Commission (#SEC ) of "deleting" nearly a year’s worth of messages from former Chairman Gary Gensler, right during the period when the agency is ramping up its crackdown on the crypto industry.
According to reports from the SEC's Office of the Inspector General, messages from October 2022 to September 2023 were permanently deleted, coinciding with the FTX collapse and many strong actions by the SEC against the digital asset market. #coinbase believes that this action not only violates storage regulations but also causes "irreparable harm" to the investigation process.
In a filing sent to the court, Coinbase requests the imposition of sanctions, expedited disclosure of documents, and requires the SEC to hand over all related information. The company emphasizes that the SEC has previously fined billions of USD to companies for record-keeping violations, but now finds itself in a similar situation, causing a "crisis of credibility."
In addition to #Gensler , the report also shows that more than 40 devices of other senior officials at the SEC are at risk of data loss. This raises significant questions about the transparency and accountability of the leading U.S. financial regulatory agency.
⚠️ Risk warning: These legal disputes could have a strong impact on crypto regulatory policy in the U.S., causing unpredictable market volatility. Investors need to closely monitor developments before making decisions.
