(Reuters) -Coinbase said on Thursday it strongly believes a regulatory investigation by the U.S. securities regulator into its disclosures of monthly transacting users should not continue.

The statement follows a New York Times report that said the U.S. Securities and Exchange Commission is investigating whether Coinbase's user numbers in past disclosures were accurate.

"This is a hold-over investigation from the prior administration about a metric we stopped reporting two and a half years ago, which was fully disclosed to the public," Paul Grewal, the crypto exchange's chief legal officer, added in an emailed statement to Reuters.