SEC Investigates Coinbase User Data, Company Says It’s Old News

Coinbase says it strongly disagrees with a U.S. Securities and Exchange Commission (SEC) investigation into how the company reported its user data.

The crypto exchange believes the investigation should not continue, especially since the issue is tied to a metric the company stopped reporting more than two years ago.

The statement comes after a New York Times report revealed that the SEC is looking into whether Coinbase gave accurate information about its number of monthly transacting users in earlier disclosures.

In response, Coinbase’s Chief Legal Officer Paul Grewal said the probe is a “hold-over investigation from the prior administration” and that the company had been fully transparent at the time.

Coinbase insists that there is no ongoing concern with how it currently reports data and considers the investigation outdated and unnecessary.