The U.S. Securities and Exchange Commission will pay Coinbase $150,000 to settle a lawsuit brought under the Freedom of Information Act, according to Coinbase Chief Legal Officer Paul Grewal. Grewal also said the agency will revise its record-retention policy as part of the settlement. The update was reported in a news brief published by Odaily. No additional terms of the agreement were disclosed in the source material. The case centers on a FOIA dispute between the regulator and the crypto exchange. Based on the information provided, the settlement includes both a monetary payment from the SEC to Coinbase and a change to the agency’s records preservation practices.
The U.S. Securities and Exchange Commission will pay Coinbase $150,000 to settle a lawsuit under the Freedom of Information Act, according to Coinbase Chief Legal Officer Paul Grewal.
Grewal said the SEC will also revise its record-retention policy.
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