The SEC's Ambiguity on Cryptocurrency

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David Rothkopf: The SEC's mission is to have capital markets, guard capital market formation. He says it may be an unstated mission, but it almost certainly is an illegitimate mission. "It allows them to extend their influence and expand their jurisdiction where the law says they can't," he said.

Paul Grewal, Coinbase's Chief Legal Officer joins Ryan and David to discuss why Coinbase is Suing the SEC. Why did they choose to respond to the SEC's Wells Notice to Coinbase in the way they did? Is Gary playing 4D chess or is he just embarrassing and pushing U.S. crypto innovation outside of the U.S.?

Tune in to hear Paul's thoughts and much more.

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------ Timestamps:

0:00 Intro 5:44 Why Coinbase is Suing the SEC? 9:10 SEC Giving Crypto Community Rules? 13:14 Why Gary Thinks There's Clarity 15:22 Petition to Give Crypto Rules! 18:10 Why No Clarity Yet? 20:51 What Kind of Rules Do We Want? 23:44 Engaging with the SEC 26:40 Open Conversation? 34:48 Coinbase Wells Notice 42:11 Why is Gary so Confident? 45:28 Battle of Public Opinion 49:42 Does Crypto Regulation Have Hope? 52:45 Closing & Disclaimers

------ Resources:

Paul Grewal https://twitter.com/iampaulgrewal

Coinbase Suing SEC Blog Post https://www.coinbase.com/blog/coinbase-takes-another-formal-step-to-seek-regulatory-clarity-from-sec-for

Coinbase Wells Notice Video https://www.youtube.com/watch?v=zq2jf4sBdYE&t=576s

Gary's Clarity Video https://twitter.com/GaryGensler/status/1651624244445421591?s=20

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