Judge Criticizes Coinbase for Calling SEC Chairman Gary Gensler

Bittime - The legal dispute between Coinbase and the SEC culminated in a call for Gary Gensler to testify about cryptocurrency communications. 

Coinbase demanded Gensler's public involvement, but the SEC's legal team refused, claiming Gensler could not act as a fact witness or legal expert.

Judge Criticizes Coinbase for Calling SEC Chairman Gary Gensler

Even when he was Chairman, they said no. We tried to engage with Mr. Gensler and the SEC, but they refused to say that he did not use his personal devices to communicate about crypto. Coinbase's legal team claims that they were unable to obtain the necessary information from the SEC.

Coinbase said that public engagement was necessary for Gensler's outstanding role in increasing public understanding of cryptocurrencies. In response, Judge Failla acknowledged the possible problems Coinbase might face.

Gensler Unable to Act as a Witness

Tenreiro asserted that the subpoena should be dismissed because Gensler cannot act as a fact witness or legal expert witness. Coinbase responded by citing a case in which Ripple court asked 19 staff members, including then-chairman Jay Clayton, to meet communications. However, Tenreiro noted that in Ripple's case, the personal device issue has been resolved.

Judge Failla Asks Coinbase to Continue Motion

Lastly, Judge Failla asked Coinbase to proceed with a motion to compel, setting a deadline for scheduling further conversations with the SEC, which the exchange's attorney confirmed. The dispute began in June when Coinbase requested information and documents related to Gensler's public statements about digital assets.

Conclusion

Coinbase's call to Gary Gensler, SEC Chairman, to testify regarding cryptocurrency communications is at the center of the legal dispute between Coinbase and the SEC. Coinbase claims that Gensler's public engagement is critical to increasing people's understanding of digital assets. However, Gensler's legal team pushed back, claiming that Gensler could not serve as a fact witness or legal expert, and asserted that the subpoena should be dismissed.

Although he acknowledged the potential problems facing Coinbase, Judge Failla ruled that Coinbase should proceed with a motion to compel, setting a deadline for scheduling further conversations with the SEC. The dispute occurred in June when Coinbase requested documents and information related to Gensler's public statements about digital assets.

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