Coinbase has criticized the American Securities and Stock Exchange Committee (SEC) for the “destruction and order approach” to the records, accusing the critical text messaging agency agency
Coinbase SEC is accused of “destroying” records
On Thursday, Crypto Excination Coinbase, through the partnership of the historical research company, asked the Federal Court “Bring SEC's secret transformations on Crypto to sunlight” with the issue of the Freedom of Information Law (FOIA).
Paul Ghalwal, Coinbase, explained that the company asked the American boycott court to boycott Colombia to address “the total violation of public trust” that the organizational agency was recently part of “to ensure it happens again.”
Grewal wrote on X, stressing that “Gensler SEC destroyed the documents that were asked to preserve and produce them. We now have evidence from the Secretary General of SEC”, stressing that the main “destroyed” text messaging agency, although Coinbase has requested “information about” all communications “in the Supreme Council for Education related to Crypto and takes over enlargement decisions throughout the city Years “.
As Bitcoinist said, the committee was recently subjected to shooting after the OIG Inspector Office (OIG) report details of a series of “avoiding” errors from the IT Department of the Control Authority, which led to the loss of records related to encryption enforcement actions during the Gary Ginsner period, which led to the loss of text messages to the former Supreme Council of Education Council between 2022 and 2023.
According to the court's report, the Supreme Education Council revealed to the world just a few days ago that the agency has forever stumbled on an public investigation of these cases by eliminating the mandates of freedom of information and destroying the main documents.
The case of the Coinbase Court highlighted that the recent report had detailed how the committee “excluded” the text messages of SEC officials when dealing with the requests of the Freedom of Information Law, even if many of the agency's records were subject to the request. In addition, it revealed that the missing text messages “were destroyed (…) after submitting these requests for this freedom of information law, but a long time before the start of litigation.”
The document also claimed that the same thing happened to more than 20 other texts from high -level SEC officials, and dozens of others or may be in imminent danger. He added, “Although the Supreme Education Council has known these bright and urgent problems for two years, none of this was revealed to the court or history partners within 14 months of litigation.”
SEC contract according to its own standards
In the past, Coinbase's Clo stressed that “this is not” some amnesty. “This was a destruction of evidence related to suspended litigation.” Likewise, the file stated that the Supreme Education Council cannot claim “no harm, nor error” in the operation of “thirteen hours of inspections” that come “after it is too late.”
He argued that if the organizational agency had conducted quick and appropriate searches when History Associats submitted requests for the Freedom of Information Law for the first time in July and August 2023, the committee had reviewed records at that time or took measures to preserve them.
Excerpt of Coinbase's court document. Source: Paul Grewal
“It may be impossible to rebuild the number of responsive texts that have been irreversibly lost He is Certainly, the approach to destruction and order in the Supreme Education Council should end immediately.
The case noted that during the past few years, the Securities and Stock Exchange imposed more than one billion dollars on fines on the private parties for a similar failure to maintain text messages and securities communications with the assertion that “everyone must play with the same rules” and be “responsible for violating (…) requirements for saving records tested at the time.”
To ensure that SEC is “detained according to its own standards” and preventing similar incidents in the future, Coinbase asked the court to hold an appropriate hearing and order, including the correct accelerated research on and produce all relevant texts that the agency's inspections have not been revealed, discovering “access to the agency's bottom”, and all appropriate penalties.
Bitcoin (BTC) trades at $114,978 in the one-week chart. Source: BTCUSDT on TradingView
Distinctive image from NBC News, Chart from TradingView.com
Editing process For Bitcoinist, it is focused on providing accurate, accurate and non -biased content. We support strict resource standards, and each page is subject to a diligent review by our team of senior technology experts and experienced editors. This process guarantees the integrity of our content, importance and value of our readers.
