The Securities and Exchange Commission has closed its multi -year revision of Coinbase’s financial disclosures without requiring any changes or recovery, according to a letter released and shared by the Chief Legal Officer Paul Grewal van de Exchange.
In a social media post of 15 April, Grewal emphasized that the resolution comes after more than two years of involvement in the SEC division of Corporation Finance.
He wrote:
“We have fully resolved – without adjustments or changes – a number of comments regarding our disclosures.”
He added that Coinbase remains focused on “taking the next billion onchain and building world -class products.”
Sec -letter
The letter, dated March 17, was addressed to Coinbase Chief Financial Officer Alesia Haas. It confirmed that the SEC had completed the assessment of the company’s Form 10-K archives for the tax years ending on December 31, 2022 and 2023.
The letter stated:
“We remind you that the company and management are responsible for the accuracy and adequacy of their disclosures.”
The regulator also emphasized that the completion of the assessment does not constitute a cancellation or approval of the archives.
The conclusion of the assessment marks the end of a long -term comment process that started shortly after Coinbase was made public in April 2021. The activities and disclosures of the company have remained under legal supervision in the midst of evolving standards for digital activa companies that navigate US securities legislation.
It is also after the regulatory landscape has been dramatically shifted since President Donald Trump returned to the office in January. His administration has spotted a deviation from the aggressive approach-led approach by former SEC chairman Gary Genler under the previous administration.
The supervisor has already rejected several lawsuits against crypto companies, including the legal steps against Coinbase, and is actively working on developing a regulatory framework for industry under its new leadership.