ChainCatcher reported that according to CoinDesk, at a hearing on Thursday, Katherine PolkFailla, a judge at the Southern District Court of New York, rejected Coinbase's request to subpoena personal communications of Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), and asked it to re-plan and prepare a briefing schedule.

Earlier in June, Coinbase told the SEC that it planned to subpoena personal communications of SEC Chairman Gary Gensler related to cryptocurrency during his tenure and in the four years before he was appointed chairman. Judge Faill said she was “actually quite surprised by the request made to Gensler in his personal capacity at the beginning of the hearing.”

Towards the end of the hearing, after both sides explained their arguments, the judge still believed that Coinbase's request was inappropriate, but required the trading platform to file a motion to force a formal proceeding so that both sides could present their arguments in more depth.