A judge has granted the US Securities and Exchange Commission’s (SEC) request for an extension of the deadline for submitting documents related to the lawsuit against the cryptocurrency exchange Coinbase.
The SEC first sued the exchange in June 2023 for allegedly violating securities laws, including selling unregistered securities and operating an unregistered brokerage firm.
This summer, Coinbase asked District Judge Katherine Polk Failla to order the regulator to seek and produce documents related to past communications with crypto issuers. The exchange also argued that the SEC should better record the documents it withholds.
Earlier this month, Failla partially granted and partially denied Coinbase’s motion.
The SEC then asked the judge to extend the discovery deadline by four months, from October 18 to February 18. The regulator says it is “examining at least 133,582 unique documents” and needs time to comply with the judge’s order.
Failla gave the green light for the extension of the deadline on Thursday.
In June, Coinbase also filed a countersuit against the SEC and the Federal Deposit Insurance Corporation (FDIC), accusing the regulators of acting outside their jurisdiction, attempting to “cripple” the crypto industry and violating the Freedom of Information Act to circumvent. FOIA) requests.
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