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Why Coinbase is Suing the SEC with Paul Grewal, Coinbase's Chief Legal Officer

Apr 28, 2023
Guest
Paul Grewal
Paul Grewal, the Chief Legal Officer of Coinbase, joins the discussion on the company's bold lawsuit against the SEC. He reveals the motivations behind their response to the SEC's Wells Notice and critiques the current state of regulatory clarity. Is SEC Chair Gary Gensler intentionally stifling U.S. crypto innovation? Grewal argues for clearer rules in the industry and highlights the need for open dialogue with regulators. Tune in for insights on how this legal battle could reshape the future of cryptocurrency in America.
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INSIGHT

SEC's Conflicting Clarity Claims

  • The SEC claims the crypto industry has clarity, but has never formally provided guidance.
  • Contradicting his 2021 statements, Chair Gensler now insists existing laws are sufficient.
INSIGHT

SEC's Ambiguity and Overreach

  • The SEC's ambiguity potentially allows them to exert influence beyond their legal authority.
  • This tactic may extend their control over areas not explicitly granted by Congress.
ANECDOTE

Coinbase's Engagement with the SEC

  • Despite Chair Gensler's invitation for dialogue, Coinbase experienced a different reality.
  • After over 30 engagements, their attempts at constructive discussion resulted in a Wells notice.
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