The settlement includes a $150,000 payment and reforms to record-retention policies, reported by a Wall Street Journal op-ed.
Bastian Riccardi
The United States Securities and Exchange Commission (SEC) has settled a Freedom of Information Act (FOIA) lawsuit with cryptocurrency exchange Coinbase, resolving a dispute over lost or destroyed messages. The settlement was reported in a Wall Street Journal op-ed.
The settlement includes a $150,000 payment to Coinbase and reforms to the SEC's record-retention policies.
A report from a watchdog last year previously identified the loss of nearly one year of Gary Gensler's text messages as stemming from avoidable errors. The settlement between Coinbase and the SEC, which was finalized on a Wednesday, concludes a legal dispute that had persisted for several years.
The recently concluded FOIA lawsuit, which spanned two years, focused specifically on what former SEC Chair Gary Gensler knew regarding Ethereum. A court status report confirming the resolution was filed following the multi-year legal dispute, which resulted in a $150,000 settlement and reforms to the agency's record-retention policies.
