Coinbase says it strongly believes US SEC investigation should not continue
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FILE PHOTO: A representation of the cryptocurrency is seen in front of Coinbase logo in this illustration taken, March 4, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
(Reuters) -Coinbase said on Thursday it strongly believes a regulatory investigation by the U.S. securities regulator into its disclosures of monthly transacting users should not continue.
The statement follows a New York Times report that said the U.S. Securities and Exchange Commission is investigating whether Coinbase's user numbers in past disclosures were accurate.
"This is a hold-over investigation from the prior administration about a metric we stopped reporting two and a half years ago, which was fully disclosed to the public," Paul Grewal, the crypto exchange's chief legal officer, added in an emailed statement to Reuters.
(Reporting by Pritam Biswas in Bengaluru; Editing by Alan Barona)
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