Coinbase Chief Legal Officer: SEC Did Not Follow Its Own Wells Notification Process

Odaily News Coinbase Chief Legal Officer Paul Grewal criticized the SEC for not following its own Wells notification process. In a partial lawsuit filed against the crypto platform Debt Box on Monday, the SEC said that its staff "usually thoroughly interprets the evidence" to prove its potential charges against the entity. In response, Paul Grewal said they were not told which assets were problematic at all, while questioning why the government did not follow its Wells notification procedure in their case. It is reported that Coinbase was sued by the SEC in June last year, alleging that it had been engaged in unregistered securities issuance and sales since 2019. The legal dispute is still ongoing, and the SEC recently asked the court to dismiss Coinbase's appeal of its lawsuit.