Ущерб от IT-ошибок: SEC потеряла важную переписку Гэри Генслера по крипторегулированию Headline: Damage from IT Mistakes: SEC Lost Crucial Correspondence of Gary Gensler on Crypto Regulation

The SEC has lost correspondence from former chairman Gary Gensler covering the period from October 2022 to September 2023, which also pertained to cryptocurrency regulation.

An internal inquiry revealed that the issue arose due to «preventable errors» made by the IT department.

According to the Inspector General’s report, the agency’s IT department implemented an incorrect automation policy that led to the total deletion of data from Gensler’s work smartphone, including messages and system logs.

The situation was worsened by the absence of backups, ignored system alerts, and unresolved software issues. IT specialists were unable to ascertain why the device stopped syncing with the SEC’s mobile device management system.

The deleted messages contained crucial information regarding the SEC’s enforcement actions against cryptocurrency companies, including matters related to the timing of lawsuits against trading platforms and their founders. This information may now be inaccessible to courts and the public.

Investigators managed to recover around 1,500 messages from Gensler’s correspondence with colleagues, with approximately 38% directly related to the Commission’s operations.

During Gensler’s tenure, the SEC actively penalized financial institutions for violations related to data retention. At that time, the head of the agency emphasized that «finance relies on trust,» and a lack of proper record-keeping undermines this trust.

The data loss could impact the agency’s responses to inquiries made under the Freedom of Information Act. The SEC has already disabled SMS on most work devices and initiated improvements to the backup system for senior officials.

Members of the cryptocurrency community pointed out that the missing messages disappeared during a critical period—from the collapse of FTX to the Grayscale court proceedings.

Caitlin Long, founder of Custodia Bank, quipped whether the messages were «forever lost due to a mysterious boating accident.»

As a reminder, in May 2025, former U.S. Congressman Patrick McHenry stated that Gensler exhibited a more prudent attitude toward cryptocurrencies in private conversations than in his public appearances.