According to Mars Finance, on September 18, the SEC filed a document with the U.S. District Court for the Southern District of New York, requesting a federal judge to grant the commission a four-month extension to complete its investigation into Coinbase. The regulator initially expected to file the document on October 18. However, Coinbase partially won the motion to force an investigation, resulting in the SEC being asked to provide information on its application of token securities laws.
“The SEC is reviewing at least 133,582 unique documents,” the filing said. “The requested extension will provide the SEC with the necessary time to comply with the court’s order.”
