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The US SEC reaches a settlement with Coinbase over a dispute regarding record requests during its former chair Gensler’s tenure
PANews July 23 news: According to The Block, the U.S. Securities and Exchange Commission (SEC) has reached a settlement with Coinbase, ending the years-long legal dispute over record-keeping issues during former SEC Chair Gary Gensler’s tenure. Coinbase Chief Legal Officer Paul Grewal said in a Wall Street Journal op-ed that Gensler launched a “litigation campaign” against the crypto industry. In 2024, Coinbase filed FOIA lawsuits against the SEC and the FDIC through the consulting firm History Associates, alleging that the regulators were trying to sever ties between the crypto industry and the banking sector.
Under the settlement agreement reached on Wednesday, the SEC agreed to pay History Associates $150k in legal fees, agreed to release two previously undisclosed documents, and will review its record retention and the way text information is preserved. The FDIC reached a settlement with Coinbase in February of this year.