The Securities and Exchange Commission has settled with Coinbase in a Freedom of Information Act lawsuit, agreeing to pay 150,000 dollars in attorney fees and release two previously withheld documents. The regulator will also review its policies governing text messages and other electronic communications. The dispute originated from the automatic deletion of texts involving former SEC Chair Gary Gensler and other senior officials, making these communications unavailable for transparency requests. Under Gensler’s leadership, the SEC had imposed billions of dollars in penalties on banks for similar failures to preserve employee communications.
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