The Securities and Exchange Commission has completed its thorough review of Coinbase’s financial disclosures, as confirmed in a letter released by the agency and shared by Coinbase’s Chief Legal Officer, Paul Grewal.
After more than two years of engagement with the SEC’s Division of Corporation Finance, Coinbase has successfully resolved all comments related to its disclosures without the need for any restatements or amendments. Grewal took to social media on April 15 to announce this milestone, emphasizing that Coinbase remains committed to bringing the next billion users onto the blockchain and continuing to develop world-class products.
The SEC’s letter, dated March 17 and addressed to Coinbase’s Chief Financial Officer, Alesia Haas, confirmed the completion of the review of the company’s Form 10-K filings for the fiscal years ending December 31, 2022, and 2023. While the SEC reminded Coinbase that the company and its management are ultimately responsible for the accuracy and adequacy of their disclosures, the regulator did not provide an explicit endorsement of the filings.
This conclusion marks the end of a lengthy comment process that began shortly after Coinbase’s public listing in April 2021. As digital asset companies navigate evolving standards within US securities law, Coinbase’s operations and disclosures have remained under close regulatory scrutiny.
The regulatory landscape has seen significant changes since the start of President Donald Trump’s term in January. His administration has signaled a shift away from the aggressive enforcement approach favored by former SEC Chair Gary Gensler. The SEC has dismissed multiple lawsuits against cryptocurrency firms, including its legal action against Coinbase, and is actively working to establish a regulatory framework for the industry under new leadership.
In summary, Coinbase’s successful resolution of the SEC’s review underscores the company’s commitment to transparency and compliance in the evolving regulatory environment. This development paves the way for Coinbase to continue its mission of expanding access to blockchain technology and delivering innovative products to a global audience.