Coinbase Narrows Subpoena to SEC Chair Gensler, Focuses on Communications During Tenure

cryptonews.com:

Coinbase has slimmed down its subpoena to Gary Gensler, the Chair of the United States Securities and Exchange Commission (SEC).

Instead of seeking access to Gensler’s private communications spanning his entire professional history, the exchange has decided to narrow its scope and focus solely on his communications during his tenure as SEC Chair.

Initially, Coinbase’s legal team argued that obtaining Gensler’s private chats, both before and during his time as the SEC Chair, was essential to their defense in the ongoing lawsuit filed against them by the securities regulator.

In a filing on July 15, Coinbase revealed its decision to adjust its subpoena request, taking into account Judge Katherine Polk Failla’s reservations expressed last week.

“With respect to the subpoena to Mr. Gensler, Coinbase has determined to seek the production of Mr. Gensler’s documents only for the period of his tenure as Chair of the SEC,” the filing states.

Gensler assumed the role of SEC Chair in April 2021, and Coinbase’s revised approach now aligns with the specific time frame of Gensler’s chairmanship.

Initially, Coinbase had sought access to Gensler’s communications dating back to 2017, a year prior to his involvement in teaching a “Blockchain and Money” course at the Massachusetts Institute of Technology in 2018.

Coinbase argued that understanding the evolution of Gensler’s views on crypto-related regulatory matters was crucial to their case.

Judge Failla, however, expressed concerns about the burden imposed by inquiries into Gensler’s statements before he assumed the position of SEC Chair, indicating a reluctance to grant Coinbase’s initial request.

Coinbase is required to submit its opening brief for the motion to compel on July 23, and the SEC