BTC
$117,893.98
-
1.14%
ETH
$3,790.01
-
1.88%
XRP
$3.1110
-
4.46%
USDT
$1.0000
-
0.02%
BNB
$827.44
-
1.78%
SOL
$182.63
-
3.73%
USDC
$0.9998
+
0.00%
DOGE
$0.2253
-
6.49%
TRX
$0.3229
+
1.03%
ADA
$0.7894
-
5.09%
HYPE
$43.76
+
0.08%
SUI
$3.9102
-
10.90%
XLM
$0.4172
-
5.80%
LINK
$18.08
-
4.86%
BCH
$574.47
-
2.18%
HBAR
$0.2691
-
6.05%
AVAX
$24.95
-
3.36%
WBT
$43.87
-
1.35%
LTC
$108.79
-
4.96%
LEO
$8.9712
+
0.12%
Ad
Logo
  • News
  • Cryptocurrencies
  • Data
  • Indices
  • Research
  • Events
  • Sponsored
  • Sign In
  • Sign Up
Policy
Share this article
X iconX (Twitter)LinkedInFacebookEmail

SEC Asks NY Court to Deny Coinbase’s ‘Breathtakingly Broad’ Subpoena Request

The regulatory agency has taken umbrage with Coinbase’s attempt to subpoena SEC Chair Gary Gensler’s personal emails.

By Cheyenne Ligon|Edited by Jesse Hamilton
Updated Aug 6, 2024, 1:39 p.m. Published Aug 6, 2024, 1:21 a.m.
CEO Brian Armstrong's Coinbase has been accused of going too far in seeking Securities and Exchange Commission Chair Gary Gensler's communications. (CoinDesk)
CEO Brian Armstrong's Coinbase has been accused of going too far in seeking Securities and Exchange Commission Chair Gary Gensler's communications. (CoinDesk)
  • The U.S. Securities and Exchange Commission complained to a federal judge that Coinbase tried to dig too deep when it went after the records of agency Chair Gary Gensler.
  • The SEC made the latest filing in the court case in which the regulator is pursuing the U.S. exchange for violating securities laws.

Lawyers for the U.S. Securities and Exchange Commission (SEC) are pushing back against what they describe as Coinbase’s “breathtakingly broad” subpoena requests searching for “essentially all documents that in any way relate to crypto.”

The court documents, filed Monday, are the latest jab in the ongoing fight between the SEC and Coinbase over the crypto exchange’s attempt to subpoena the agency and its employees, including Chair Gary Gensler, for communications and other records that could potentially be useful for Coinbase’s defense in its upcoming trial against the regulatory agency.

jwp-player-placeholder
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the State of Crypto Newsletter today. See all newsletters
By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy.

The SEC filed civil charges against Coinbase last year, accusing the crypto exchange of operating as an unregistered securities exchange, broker and clearing agency. The SEC also charged Coinbase with the unregistered sale of securities in connection with its staking products.

In April, Coinbase served the SEC with its first request for the production of documents. Two months later, Coinbase told the SEC that it also planned to subpoena Gensler’s personal communications related to crypto over the course of his tenure, plus four years before he was appointed Chairman. Coinbase also served a similar subpoena on Massachusetts Institute of Technology (MIT), where Gensler taught a class on blockchain technology before joining the SEC. However, the company recently informed the court that it wouldn't seek records from outside his agency role.

Read More: Coinbase Narrows Demand for SEC Chair Gensler's Crypto Messages

The request for Gensler’s personal communications appears to have been a bridge too far for the SEC, which has described the subpoena as a “blatant impropriety.” In a letter to the court on June 28, the SEC argued that the judge overseeing the case, District Judge Katherine Polk Failla of the Southern District of New York (SDNY), should reject Coinbase’s request.

Failla called for a pre-trial conference, held by phone on July 11, to discuss the competing requests. From the outset, Failla appeared to be bewildered by Coinbase’s request for Gensler’s personal communications, particularly those predating his appointment as SEC Chairman.

“I was kind of surprised and not in a good way,” Failla said of Coinbase’s motion on July 11. “I found the arguments, at least as articulated in the July 3rd response, to border on the fatuous… I was not moved by basically any of the arguments.”

Failla sent Coinbase back to the drawing board, ordering its lawyers to file a motion to compel as a starting point for the parties to work through the discovery dispute. Following the conference, Coinbase submitted its motion to compel to the court on July 23, slightly narrowing the scope of its request but otherwise sticking to its guns.

"If the SEC is going to engage in an unprecedented regulation by enforcement campaign, the least they owe to those they – and the public – is transparency," said Coinbase Chief Legal Officer Paul Grewal in a X post.

UPDATE (August 6, 2024 at 13:39 UTC): Adds comment from Paul Grewal.

RegulationsCoinbaseSecurities and Exchange CommissionLegalCourt Cases
Cheyenne Ligon

On the news team at CoinDesk, Cheyenne focuses on crypto regulation and crime. Cheyenne is originally from Houston, Texas. She studied political science at Tulane University in Louisiana. In December 2021, she graduated from CUNY's Craig Newmark Graduate School of Journalism, where she focused on business and economics reporting. She has no significant crypto holdings.

X icon
CoinDesk News Image

More For You

Crypto Industry Asks President Trump to Stop JPMorgan’s 'Punitive Tax' on Data Access

By Sam Reynolds|Edited by Parikshit Mishra
Jul 24, 2025
JPMorgan CEO Jamie Dimon

A coalition of fintech and crypto trade groups is urging the White House to defend open banking and stop JPMorgan from charging fees to access customer data.

What to know:

  • Ten major fintech and crypto trade associations have urged President Trump to stop big banks from imposing fees that could hinder innovation and competition.
  • JPMorgan's plan to charge for access to consumer banking data may debank millions and threaten the adoption of stablecoins and self-custody wallets.
  • The CFPB's open banking rule, which mandates free consumer access to bank data, is under threat as banks have sued to block it, and the CFPB has requested its vacatur.
Read full story
Latest Crypto News
CoinDesk

Multisig Failures Dominate as $2B Is Lost in Web3 Hacks in the First Half

Jul 24, 2025
JPMorgan CEO Jamie Dimon

Crypto Industry Asks President Trump to Stop JPMorgan’s 'Punitive Tax' on Data Access

Jul 24, 2025
WIF Experiences 11% Intraday Swing with Institutional Support Driving Recovery to $1.21 Amid Bullish Technical Signals

WIF Suffers Sharp 11% Decline Before Mounting Recovery to $1.21

Jul 23, 2025
A momentum indicator has turned green for BTC bulls. (geralt/Pixabay)

[Article test] Bitcoin Climbs to $105K; Crypto ETF Issuer Sees 35% Upside

Jul 23, 2025
(CJ/Unsplash)

[Test] Bitcoin Perp Futures Open Interest on Offshore Platforms Surges The Most Since Trump's Crypto Reserve Disclosure

Jul 21, 2025
FastNews (CoinDesk)

XRP, BTC, ETH, SOL Analysis

Jul 18, 2025
Top Stories
JPMorgan Chase CEO Jamie Dimon (Photo by Kevin Dietsch/Getty Images)

JPMorgan To Allow Clients To Buy Bitcoin, Says Jamie Dimon

May 19, 2025
Consensus 2025: Anthony Scaramucci, Founder, SkyBridge Capital

Scaramucci Says Bitcoin Treasury Trend Will Fade Despite Saylor’s Success

Jul 2, 2025
A barman shakes a cocktail shaker with an array of drinks bottles behind him.

Crypto Daybook Americas: Bitcoin Whiplash Shakes Market as U.S. Yield Spike Threatens Bull Run

May 19, 2025
Mike Novogratz, Galaxy founder and CEO, speaks at Consensus 2024 (CoinDesk/Shutterstock/Suzanne Cordiero)

The Bull Case for Galaxy Digital Is AI Data Centers Not Bitcoin Mining, Research Firm Says

May 19, 2025
Tokyo, Japan (Jaison Lin/Unsplash)

Metaplanet Buys Another 1,004 Bitcoin, Lifts Holdings to Over $800M Worth of BTC

May 19, 2025
A roller coaster. (Mark Wilson/Getty Images)

Bulls and Bears Get Caught off Guard as Bitcoin Jumps to $106K, Then Falls Back to $103K

May 19, 2025

Only 1 article remaining this month.

Sign up for free

About

  • About Us
  • Masthead
  • Careers
  • CoinDesk News
  • Crypto API Documentation
  • Blog

Contact

  • Contact Us
  • Accessibility
  • Advertise
  • Sitemap
  • System Status
Disclosure & Polices
CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.
EthicsPrivacyTerms of UseCookie SettingsDo Not Sell My Info

© 2025 CoinDesk, Inc.
X icon
Sign Up
  • News
    Back to menu
    News
    • Markets
    • Finance
    • Tech
    • Policy
    • Focus
  • Cryptocurrencies
    Back to menu
    Cryptocurrencies
    • Data
      Back to menu
      Data
      • Trade Data
      • Derivatives
      • Order Book Data
      • On-Chain Data
      • API
      • Research & Insights
      • Data Catalogue
      • AI & Machine Learning
    • Indices
      Back to menu
      Indices
      • Multi-Asset Indices
      • Reference Rates
      • Strategies and Services
      • API
      • Insights & Announcements
      • Documentation & Governance
    • Research
      Back to menu
      Research
      • Events
        Back to menu
        Events
        • CoinDesk: Policy & Regulation
        • Consensus Hong Kong
        • Consensus Miami
      • Sponsored
        Back to menu
        Sponsored
        • Thought Leadership
        • Press Releases
        • CoinW
        • MEXC
        • Phemex
        • Advertise
      • Videos
        Back to menu
        Videos
        • CoinDesk Daily
        • Shorts
        • Editor's Picks
      • Podcasts
        Back to menu
        Podcasts
        • CoinDesk Podcast Network
        • Markets Daily
        • Gen C
        • Unchained with Laura Shin
        • The Mining Pod
      • Newsletters
        Back to menu
        Newsletters
        • The Node
        • Crypto Daybook Americas
        • State of Crypto
        • Crypto Long & Short
        • Crypto for Advisors
      • Webinars
        Back to menu
        Webinars
        Select Language
        English enEspañol esFilipino filFrançais frItaliano itPortuguês pt-brРусский ruУкраїнська ukDeutsch deNederlands nl한국어 ko中文 zh