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The U.S.-based cryptocurrency exchange Coinbase has filed a Freedom of Information Act (FOIA) request to learn about the SEC’s expenditures related to its cryptocurrency litigation. The request encompasses the regulatory agency’s annual budget allocations for investigations and enforcement activities concerning digital assets from April 2021 to January 2025.
Request for Information on SEC Expenditures
The document submitted by Coinbase includes total spending details regarding the SEC’s oversight and enforcement activities in the cryptocurrency sector. The request also queries the number of full-time staff at the regulatory agency and the compensation agreements for these employees. Additionally, information on working hours and payment details for third-party contractor staff is sought.
Other Cases in the Crypto World
Particularly, the request aims to report on the annual budget and personnel salaries of the Crypto Assets and Cyber unit. The SEC’s recent enforcement actions in various cases have also impacted other major cryptocurrency platforms.
While making this request, Coinbase criticized the current situation as unfair. Coinbase stated, “The previous SEC attacked a legal industry for four years, and American taxpayers bore this cost. How much did you pay? We aim to find that out.”
If the regulatory agency fails to share information under the FOIA, it is believed that undisclosed data could lead to significant costs. This request can be seen as an effort to enhance transparency regarding the SEC’s actions in the cryptocurrency sector.
Considering recent developments, including SEC lawsuits against major platforms like Ripple 
$2, Gemini, and Binance, it can be suggested that the requested information may have industry-wide implications. However, it remains uncertain what changes may occur in the cryptocurrency asset market if the data is disclosed.
Coinbase’s request is regarded as an intriguing step in examining the regulatory agency’s expenditures. If shared, the data aims to provide stakeholders with detailed insights into the financial dimensions of enforcement actions, potentially laying the groundwork for discussions on the transparency of regulatory policies.
