Unchained
The Chopping Block: Coinbase’s Paul Grewal on Why the SEC Is Going After Crypto So Aggressively - Ep. 538
Aug 31, 2023
Paul Grewal, the Chief Legal Officer of Coinbase, dives deep into the recent court victory for Grayscale against the SEC, which he calls monumental for the crypto landscape. He discusses the SEC's evolving stance, particularly how the fallout from FTX has influenced its regulatory approach to Coinbase. Grewal shares insights on the significance of a potential spot Bitcoin ETF approval, the challenges posed by the SEC's proposed regulations, and the ongoing legal debate surrounding Tornado Cash. His bold views on reforming crypto regulation spark an engaging discussion.
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Quick takeaways
- Grayscale's court victory against the SEC is seen as a significant pushback against the regulatory body in the cryptocurrency industry.
- The proposed regulations from the Treasury and IRS raise concerns about compliance requirements and tracking obligations, emphasizing the need for sensible rules in the crypto industry.
Deep dives
Cryptocurrency industry battles regulatory challenges
The podcast episode discusses the recent regulatory challenges faced by the cryptocurrency industry. The episode highlights the lawsuit between Grayscale and the SEC, where three judges found the SEC's denial of Grayscale's application for a Bitcoin spot ETF to be arbitrary and capricious. This decision is seen as a victory for Grayscale and a pushback against the SEC. The episode also delves into Coinbase's ongoing legal battle with the SEC, with Coinbase seeking clarity on regulations and sensible rules for the industry. The podcast emphasizes the need for clear regulatory guidelines to foster growth and compliance in the cryptocurrency sector.
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