- Coinbase Chief Authorized Officer Paul Grewal not too long ago testified earlier than the US Home Agriculture Committee.
- Grewal filed an SEC lawsuit in opposition to Coinbase, urging the regulator to use solely enforcement.
- Coinbase executives urged US politicians to move the not too long ago introduced Digital Asset Market Construction Invoice.
Coinbase Chief Authorized Officer Paul Grewal not too long ago appeared on Capitol Hill to testify earlier than the US Home Agriculture Committee. Throughout his testimony, Grewal urged the SEC to use solely enforcement in mild of the regulator’s lawsuit in opposition to Coinbase. He additionally spoke in favor of the Digital Asset Market Construction Debate Invoice launched by Home Republicans final week.
Paul Grewal appeared earlier than a US Congressional committee to testify at a listening to titled “The Way forward for Digital Belongings: Bringing Readability to Spot Markets for Digital Belongings.” He offered Coinbase’s views on the Digital Asset Market Construction Dialogue Draft, which was launched by Home Agriculture Committee Chairman GT Thompson and Monetary Companies Committee Chairman Patrick McHenry.
Coinbase’s legal professional started his testimony by addressing the SEC’s lawsuit in opposition to his firm. He knowledgeable politicians that the regulator’s enforcement-only strategy was harming the nation’s financial competitiveness. Grewal added that within the absence of clear laws for cryptocurrencies, the answer was laws, not litigation.
Talking concerning the debate invoice launched by Home Republicans, Paul Grewal mentioned it was a powerful step ahead in bringing regulatory readability to the cryptocurrency trade. In keeping with Grewal, the invoice supplied “a strong basis on which to construct an efficient and balanced regulatory framework for cryptocurrency innovation in the USA.”
Paul Grewal additionally emphasised the necessity to encourage cryptocurrency innovation in the USA to stop the know-how from going offshore. He emphasised the significance of the regulatory framework as greater than 20% of People owned and used cryptocurrency.
Coinbase administration urged politicians to behave on the talk draft as quickly as attainable and transfer it to the legislative course of. Coinbase strongly believes that the proposed invoice will present sturdy safety for shoppers and buyers and guarantee an progressive future for America.
