SEC pays $150,000 as Coinbase-backed Freedom Of Information Act settlement releases two withheld documents

The SEC will pay $150,000 in legal fees and review how it preserves records as part of a July 22 settlement ending a Coinbase-backed public-records lawsuit.

History Associates, the company working with Coinbase, filed the lawsuit on June 27, 2024. The case closed with a deal before a judge ever weighed the SEC’s conduct. The public record includes no admission of wrongdoing. Coinbase chief legal officer Paul Grewal called the outcome a win for transparency.

The detailed scope of the retention work remains unclear. Reuters described the commitment as fixing records-retention policies, while Law360 reported that the agency would share its document-retention policies.

The SEC must also release two documents it previously withheld and review its records and text-message preservation. What those documents contain and when they must be released have not been publicly established.

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