Judge Critiques Coinbase Gensler Subpoena Effort in SEC Case 🚨
Ahearing in the case of SEC v Coinbase occurred on Thursday, during which Judge Katherine Polk Failla had concerns about the Coinbase motion to seek the personal communication of Gary Gensler, the Chairman of the US Securities and Exchange Commission (SEC)
She said that Coinbase’s reasons for seeking the subpoena were ‘fatuous’ particularly on the aspect of Gensler’s past comments prior to his appointment.
Kevin Schwartz, an attorney from Coinbase, stated that Gensler’s background and past statements were significant for the case. However, the judge dismissed this as inconsequential, especially the demands for information before Gensler’s tenure as chairman.
SEC’s Response to Subpoena Request
Jorge Tenreiro, an SEC senior trial attorney, opposed Schwartz’s claims, saying that the subpoena was irrelevant and could pose a dangerous precedence. Tenreiro pointed out that the case concerns Coinbase’s actions, not Gensler’s statements as a private person or a scholar.
