The U.S. Securities and Exchange Commission (SEC) has responded to Coinbase's subpoena of SEC Chair Gary Gensler's documents, seeking to quash it in their legal clash.
The SEC argues that the subpoena imposes an undue burden, lacks relevance, and could deter public service.
They aim to file a motion for a protective order to block the subpoena, citing it as improper and unnecessary.
Coinbase's request pertains to Gensler's public statements on the SEC's authority over digital asset exchanges, intending to challenge the constitutionality of the SEC's enforcement actions.
The dispute underscores broader tensions over regulatory oversight in the cryptocurrency market, highlighting concerns about due process and regulatory transparency.