Coinbase CEO Brian Armstrong has stated that the US-based cryptocurrency company is facing an "unfair" regulatory environment, with certain government officials making it difficult for the cryptocurrency industry to thrive. Before the upcoming 2024 US presidential election, there is a need to strengthen cryptocurrency lobbying efforts.
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Coinbase CEO: Cryptocurrency Lobbying Needs To Be Stepped Up Ahead of 2024 U.S. Presidential Election
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Coinbase Chief Legal Officer: US SEC blocks Coinbase’s request to disclose Gary Gensler’s communication documents
Paul Grewal.eth, the Chief Legal Officer of Coinbase, wrote on the X platform that the issues of Chevron and Binance's secondary sales have been clarified, but in Coinbase's lawsuit, the U.S. Securities and Exchange Commission (SEC) has prevented Coinbase from requesting the disclosure of Gary Gensler's communication documents. In March 2021, Gary Gensler told the U.S. Congress that the SEC lacked regulatory authority over digital asset exchanges, confirming the long-held belief among market participants that digital asset trading on these exchanges is not within the jurisdiction of securities law. Coinbase has requested that Gary Gensler provide documents related to these communications because they are related to how the SEC's enforcement actions violate the due process requirements of the Constitution, but the SEC and Gary Gensler are trying to prevent the disclosure of these documents.
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