According to Mars Finance, on September 18th, the Securities and Exchange Commission (SEC) filed a document with the U.S. District Court for the Southern District of New York, requesting a four-month extension from the federal judge to complete its investigation into Coinbase. The regulatory body initially planned to submit its findings by October 18th. However, Coinbase partially won a motion to compel discovery, leading to the SEC being required to provide information about its application of securities law.

“The SEC is reviewing at least 133,582 unique documents,” the filing stated. “The requested extension will provide the SEC with the necessary time to comply with the court’s order.”