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Cryptocurrency exchange Coinbase has secured a partial victory against the U.S. Securities and Exchange Commission (SEC), potentially gaining access to critical documents regarding the agency’s classification of tokens as securities.

On September 5, Judge Katherine Failla of the Southern District of New York partially granted Coinbase’s motion to compel the SEC to produce documents.

The ruling came as part of Coinbase’s ongoing legal struggle with the SEC, which began in July over the scope of document requests related to the regulator’s stance on digital assets.

SEC to Provide “Important Discovery” for Case
According to Coinbase’s Chief Legal Officer, Paul Grewal, the court’s decision is expected to result in the SEC providing “important discovery” for the case.

The SEC’s enforcement action against Coinbase, filed in June 2023, accuses the exchange of operating as an unregistered securities exchange, broker, and clearing agency.

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