Coinbase’s Chief Legal Officer, Paul Grewal, was interviewed by Fox Journalist, Eleanor Terrett regarding the anticipated changes in the U.S. Securities and Exchange Commission (SEC) under a new chair appointed by Donald Trump. Grewal hinted that the new chair might bring out positive changes and will take a fresh look at the regulatory guidelines established by Gary Gensler.
🚨NEW: @coinbase’s Chief Legal Officer @iampaulgrewal expects to see “significant changes” to the @SECGov’s crypto case load under a new Trump-appointed chair.
“I think the new administration will take a fresh look at all the existing crypto cases brought under @GaryGensler and…
— Eleanor Terrett (@EleanorTerrett) November 7, 2024
Verification of the SEC’s Existing Regulations
In the interview, Grewal stated that the he expects to see “significant changes” in the SEC’s way of handling cryptocurrency cases. This indicates that the administration will have to sit down and cross-verify everything that has been already been stated in the guidelines, differentiate the regulations that are valid and discard the ones that seem like scams and frauds.
Could there be Dismissal of the Lawsuits?
Advertisement
While Grewal did not explicitly state but he believes that the lawsuit against Coinbase and other firms facing allegations of securities violation may be withdrawn. According to him, with the change in the leadership, establishment of clear set of regulatory guidelines, there are high chances that these lawsuits are reassessed. His comments indicate that the industry leaders are tired of the fact that the guidelines are inconsistent and stringent without any basis and that the fact that the industry might benefit from reformation of the entire guideline structure.
As the crypto community continues to evolve, the community anticipates that the SEC adopts a more supportive stance, allowing growth and innovation within the industry. The upcoming changes could mark a pivotal moment for cryptocurrency regulation in the United States, potentially reshaping how businesses operate in this industry.
Advertisement
Also Read: Was the Ripple Leaders Political Discord a Planned Strategy?
