Coinbase is asking the U.S. District Court for the District of Columbia to issue a ruling to obtain documents from the U.S. Securities and Exchange Commission (SEC) on how securities laws apply to cryptocurrencies. Coinbase Chief Legal Officer Paul Grewal said the SEC has steadfastly refused to provide the documents requested by the exchange and initially claimed that the agency was not subject to the Freedom of Information Act (FOIA), but recently said that this may not be true. Currently, the SEC says it will take three years to provide the documents requested by Coinbase. Earlier in June, Coinbase sued the SEC and the Federal Deposit Insurance Corporation (FDIC) for failing to comply with FOIA requests, which require the public to request records from any federal agency. Coinbase seeks to obtain records of internal and external communications from the SEC regarding whether certain crypto assets, particularly Ethereum, are defined as securities. (The Block)

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