The settlement resolves a Freedom of Information Act dispute backed by Coinbase that sought access to internal regulatory records from the tenure of former SEC Chair Gary Gensler. Under the reported terms, the Securities and Exchange Commission will pay $150,000 and release two documents it had previously withheld. The agreement also reportedly includes a review of the agency's records-management and text-message retention controls, areas that have drawn scrutiny following legal losses during the Gensler era. The case reflects ongoing tension between the crypto industry and the SEC over transparency and enforcement practices. Coinbase has repeatedly pressed for greater disclosure of the regulator's internal decision-making. The payment and document release mark a notable outcome in the exchange's broader efforts to obtain visibility into how the agency approached crypto oversight, though the full contents of the released materials were not detailed.
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