The US Securities and Exchange Commission (SEC) has requested an additional four months to produce documents in the legal tussle with Coinbase. In
a recent filing with the US District Court for the Southern District of New
York, the regulator argued that it requires more time to review an extensive
collection of 133,582 documents.
The extension, if granted by Judge Katherine Failla,
could push the document production deadline to February 2025,
potentially delaying any courtroom proceedings until next year, Cointelegraph
reported.
More Time to Review Thousands of Documents
Initially scheduled to produce documents by October
18, the SEC has argued that reviewing the extensive collection of documents
requires more time. This request, filed on September 18, aims to extend the
deadline for fact discovery to February 18, 2025, with expert discovery
potentially concluding by April 22, 2025.
The ongoing legal battles involving the SEC and major
crypto exchanges like Coinbase, Binance, and Kraken are part of a broader
regulatory scrutiny of digital assets. Recent rulings against Ripple Labs and Terraform Labs
highlight the regulator’s aggressive stance on unregistered securities.
Expect ongoing updates as this story evolves.
This article was written by Jared Kirui at www.financemagnates.com.
