Coinbase, the largest U.S. crypto exchange, is intensifying its legal battle against the Securities and Exchange Commission (SEC) regarding the agency's reluctance to release documents that reveal its internal deliberations on whether Ethereum's ether (ETH) and other tokens should be treated as unlawful securities. This disagreement arises amidst a broader legal offensive by Coinbase against the SEC, including other disputes over accusations that Coinbase operates an illegal securities business and its call for crypto-specific regulations.

Coinbase has enlisted History Associates Inc. to access SEC communications via the Freedom of Information Act (FOIA). Despite the SEC initially rejecting this request, citing an ongoing investigation, History Associates pursued legal action against the denial. Now, the firm is preparing to escalate the case to the U.S. District Court for the District of Columbia, arguing the SEC's justification may no longer be valid. In a recent court notice, History Associates expressed its intention to seek a partial summary judgment compelling the SEC to release the requested documents.

Coinbase's Chief Legal Officer, Paul Grewal, emphasized the importance of transparency in a public statement. He argued that internal agency communications should be accessible to the public, lamenting the SEC's continued delay tactics. Grewal criticized the SEC for providing new justifications to block document access, after Coinbase made initial FOIA requests over a year ago focused on ETH 2.0 and related matters.

A spokesperson for the SEC declined to offer further comments beyond the agency's public filings. This ongoing legal confrontation could, in the absence of decisive legislative measures, eventually contribute to establishing a legal framework for the digital assets industry in the United States.