Coinbase's Chief Legal Officer Stays Optimistic Amid SEC Battles – Here's Why
Coinbase's Chief Legal Officer is remarkably optimistic despite two ongoing battles with the Securities and Exchange Commission (SEC).
Paul Grewal has expressed optimism about both cases, claiming that they could have a lasting impact on the entire industry.
“We’re optimistic that that’s also going to help shape the landscape and bring clarity for all of us that I think we all desperately need,” he said during a recent conversation with Blockchain Association CEO Kristin Smith at Messari's Mainnet conference.
Grewal emphasized that the court's ruling that the SEC's jurisdiction over the crypto industry is relevant to the case was an encouraging sign.
He also claimed that the lawsuit is an indication of the SEC's stance towards the entire digital assets and cryptocurrency ecosystem.
"The case against Coinbase is really a case against digital assets and crypto more generally."
According to Grewal, recent court decisions in crypto-related cases, such as those involving Grayscale and Ripple, have already yielded positive results.
Numerous judges across the country have shown a healthy skepticism towards the SEC's approach to regulating the industry, their legal theories, and the evidence presented to support their claims of authority over the crypto space.
However, it's important to note that the SEC's cases against Grayscale and Ripple are not yet fully resolved.
The agency plans to appeal the July decision in favor of Ripple, and the ruling regarding Grayscale's rejected application for a spot Bitcoin ETF only requires the SEC to review the application again rather than mandating its acceptance.
Last month, Coinbase officially filed a motion to dismiss the lawsuit from the SEC.
The exchange's main argument is that it does not
Read more on cryptonews.com
