SEC Settles FOIA Dispute with Coinbase, Agrees to Pay $150,000 in Fees

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According to court filings, the SEC and Coinbase settled a years-long FOIA dispute on Wednesday, with the SEC agreeing to pay $150,000 in attorney fees and release two withheld documents. The settlement stems from Coinbase's 2024 lawsuit alleging that the SEC and FDIC failed to comply with Freedom of Information Act requests regarding potential regulatory efforts to sever ties between the crypto industry and the banking system. As part of the settlement, the SEC will also review its record management practices and communication preservation procedures, including the handling of text messages.
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