The US SEC Completes Over Two-Year Review of Coinbase's Financial Disclosures, Requires No Amendments or Restatements

According to Cryptoslate, the SEC has concluded its multi-year review of Coinbase's financial disclosures without requiring the company to make any amendments or restatements. Coinbase Chief Legal Officer Paul Grewal shared a letter from the SEC confirming this news.

In a social media post on April 15, Grewal emphasized that this resolution was reached after more than two years of communication with the SEC's Division of Corporation Finance. The letter, dated March 17, was addressed to Coinbase CFO Alesia Haas and confirmed that the SEC had completed its review of the company's 10-K filings for the fiscal years ending December 31, 2022, and 2023.

The letter reminded Coinbase and its management that they are responsible for the accuracy and adequacy of their disclosures. The regulator also emphasized that the completion of the review does not equate to endorsement or approval of the documents. The conclusion of this review marks the formal end of a lengthy comment process that began shortly after Coinbase's IPO in April 2021.