PANews reported on August 6 that according to The Block, the U.S. Securities and Exchange Commission (SEC) requested a New York court to dismiss Coinbase's subpoena request for documents related to crypto assets. The SEC said that the materials sought by Coinbase were "completely irrelevant" and pointed out that many of Coinbase's document disclosure requests, including fair notices and investigative documents, had been met. The SEC said that Coinbase continued to request extensive searches of all institutional records, including internal documents and communications with government agencies and market participants, and these requests lacked support. Last year, the SEC sued Coinbase for operating an unregistered securities exchange, and the core dispute was whether cryptocurrencies were securities.