Coinbase Attorney Claims Gary Gensler’s Email is Crucial Evidence in SEC Lawsuit

cryptonews.com:

The legal battle between Coinbase and the SEC heated up on July 3 as the cryptocurrency exchange sought to gain access to emails from SEC Chair Gary Gensler, claiming they held crucial evidence for its defense.

In a July 3 letter to U.S. District Judge Katherine Failla, Coinbase’s legal counsel argued that obtaining discovery from Gensler’s email is crucial to the company’s defense.

Coinbase’s attorneys argued that Gensler’s communication and views on cryptocurrencies as SEC Chair are crucial to Coinbase’s fair notice trial.

The legal team representing Coinbase argued:

“To determine whether this action comports with fair notice, the Court must consider whether a “person of ordinary intelligence” in Coinbase’s position had “a reasonable opportunity to know” what the securities laws and those charged with their enforcement prohibit with respect to secondary sales of digital assets — or, instead, whether “substantial uncertainty” deprived Coinbase of fair notice.”

This argument underscores Coinbase’s contention that understanding Gensler’s perspective and communications as SEC chair is essential in evaluating the fairness of the Coinbase SEC lawsuit.

The SEC filed charges against Coinbase in June 2023, alleging that the company operated as an unregistered securities exchange, broker, and clearing agency. Coinbase has been vigorously contesting this allegation.

Earlier in March, Coinbase sued the SEC for crypto rule-making refusal, alleging that the regulatory body had hindered the industry’s development and clarity.

In April, Coinbase submitted document production requests to the SEC, followed by requests in June to SEC Chair Gensler for documents related to communications deemed pertinent to the case. This includes records that