Coinbase Chief Legal Officer: SEC's investigation into Ethereum 2.0 has concluded, final ruling on FOIA lawsuit may be in 2025

ChainCatcher news, Coinbase's Chief Legal Officer Paul Grewal stated on social media that the U.S. Securities and Exchange Commission (SEC) and the Federal Deposit Insurance Corporation (FDIC) have submitted their responses in the Freedom of Information Act (FOIA) lawsuit. Grewal pointed out that the SEC improperly withheld documents from closed investigations, including those related to Ethereum 2.0, while the FDIC withheld a "cease and desist letter" warning banks to stop collaborating with cryptocurrency companies. Notably, both agencies acknowledged that the documents sought by Coinbase do exist but claimed they have the right to withhold them based on government privilege.

The SEC further confirmed in its response that its investigation into Ethereum 2.0 has concluded. Grewal anticipates that a summary judgment process will follow (such cases do not involve evidence disclosure), with a final ruling possibly not being made until 2025. This development highlights the ongoing dispute over information transparency between the cryptocurrency industry and regulatory agencies, as well as the legal efforts made by companies like Coinbase to obtain critical regulatory information.