According to Foresight News, Paulgrewal.eth, Chief Legal Officer of Coinbase, tweeted that the U.S. Securities and Exchange Commission (SEC) prevented Coinbase from requesting the disclosure of Gary Gensler's communication documents in the Coinbase lawsuit. Previously, Gary Gensler, Chairman of the U.S. SEC, told the U.S. Congress in March 2021 that the SEC lacked regulatory authority over digital asset exchanges. "This confirms the long-standing view of market participants that digital assets traded on these exchanges are not subject to securities law." He said he looked forward to resolving this issue with the court.