The judge presiding over the SEC's case against Coinbase suggested that the cryptocurrency exchange would not be able to examine Gary Gensler's private communications before he chaired the commission. Coinbase's lawyers argued that they should have access to data on Gensler's personal devices, but the SEC did not make clear guarantees. Judge Failla expressed "strong views on the disproportionate burden of requests to Gensler." 😕

In June 2023, the SEC charged Coinbase with operating as an "unregistered securities broker" since 2019, violating US securities laws.