A decide has granted the U.S. Securities and Trade Fee’s (SEC) request for a deadline extension to supply paperwork associated to its court docket battle with the crypto trade Coinbase.
The SEC first sued the trade in June 2023 for allegedly violating securities legal guidelines, together with promoting unregistered securities and working an unregistered trade/dealer company.
This summer season, Coinbase asked District Decide Katherine Polk Failla to order the regulator to seek for and produce paperwork associated to its earlier communication with crypto issuers. The trade additionally argued that the SEC must do a greater job of logging the paperwork it withholds.
Earlier this month, Failla granted Coinbase’s movement partly and denied it partly.
The SEC then asked the decide to increase the deadline for reality discovery by 4 months, from October 18th to February 18th. The regulator says it’s “endeavor a overview of a minimum of 133,582 distinctive paperwork” and wishes time to adjust to the decide’s order.
Failla greenlit the deadline extension on Thursday.
In June, Coinbase additionally filed a counter-lawsuit towards the SEC, in addition to the Federal Deposit Insurance coverage Company (FDIC), accusing the regulators of appearing exterior their jurisdiction, trying to “cripple” the crypto business and avoiding Freedom of Info Act (FOIA) requests.
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