A judge has granted the U.S. Securities and Exchange Commission’s (SEC) request for a deadline extension to produce documents related to its court battle with the crypto exchange Coinbase.
The SEC first sued the exchange in June 2023 for allegedly violating securities laws, including selling unregistered securities and operating an unregistered exchange/broker agency.
This summer, Coinbase asked District Judge Katherine Polk Failla to order the regulator to search for and produce documents related to its previous communication with crypto issuers. The exchange also argued that the SEC needs to do a better job of logging the documents it withholds.
Earlier this month, Failla granted Coinbase’s motion in part and denied it in part.
The SEC then asked the judge to extend the deadline for fact discovery by four months, from October 18th to February 18th. The regulator says it is “undertaking a review of at least 133,582 unique documents” and needs time to comply with the judge’s order.
Failla greenlit the deadline extension on Thursday.
In June, Coinbase also filed a counter-lawsuit against the SEC, as well as the Federal Deposit Insurance Corporation (FDIC), accusing the regulators of acting outside their jurisdiction, attempting to “cripple” the crypto industry and avoiding Freedom of Information Act (FOIA) requests.
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