Coinbase presses SEC for crypto policy shift following Trump election win
SEC will have to treat cryptocurrencies differently
The U.S. Securities and Exchange Commission (SEC) should revise its approach to cryptocurrencies following Donald Trump’s election as president. Coinbase’s Chief Legal Officer, Paul Grewal, made this call to the regulator.
In his post on social media platform X, Grewal urged the SEC to adopt a new regulatory framework. He argued the document should support various innovations rather than pursuing legal battles, as is currently the case.
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Complex Relationship Between the Crypto Community and the SEC
New U.S. President Donald Trump repeatedly promised during his campaign to dismiss the current SEC Chair, Gary Gensler, due to his strained relationship with the crypto industry.
Under Gensler’s leadership, the SEC has filed lawsuits against several major cryptocurrency companies, including exchanges Coinbase and Uniswap.
Without clear regulatory guidelines, crypto companies face ongoing uncertainty about compliance. Grewal believes that new regulations could resolve these issues.
As a reminder, on November 6, Bitcoin hit a new all-time high of $75,150 as the “crypto-friendly” candidate Donald Trump took the lead in the U.S. election.
