Promise

Chair

Gary

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 Paul Grewal, Coinbase’s Chief Legal Officer, has <a href="https://x.com/iampaulgrewal/status/1854028953658577240" rel="noopener noreferrer nofollow">urged </a>the U.S. Securities and Exchange Commission (SEC) to rethink its approach to the crypto industry, advocating for regulatory frameworks that prioritize innovation rather than litigation. His comments come amidst speculation of significant changes following Donald Trump’s re-election and his campaign pledge to remove SEC Chair Gary Gensler.
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Trump, in his <a style="color: #0000ff;" href="https://www.youtube.com/live/uRQZAOK24IQ?si=0Nm9u43xFOhAXgG9" rel="noopener noreferrer nofollow">campaign</a>, promised to end what he called the “anti-crypto crusade” by firing Gensler on his first day in office. Framing his decision as part of a broader initiative to unify the nation and redirect policy, Trump’s proposed shift could mark a substantial change for the crypto landscape in the U.S.
During Gensler’s tenure, the SEC intensified enforcement actions against leading crypto platforms, targeting both centralized exchanges like Coinbase and decentralized entities such as Uniswap.&nbsp;
However, crypto advocates, including Grewal, argue that a lack of clear regulatory guidelines has left the industry in a state of uncertainty, particularly around compliance requirements. Grewal stressed the importance of regulatory clarity, calling for a shift from enforcement-focused actions to “rulemaking” that would provide a more supportive environment for crypto innovation in the U.S.&nbsp;
Grewal’s push for reform echoes recent comments from his fellow executive at Coinbase. CEO Brian Armstrong recently declared whoever would be the next SEC chair should <a style="color: #0000ff;" href="https://defi-planet.com/2024/10/coinbase-ceo-urges-future-u-s-sec-chair-to-apologize-to-crypto-sector-for-genslers-unfavourable-treatment/" rel="noopener noreferrer nofollow">apologize to the crypto sector </a>for what he views as unfavourable treatment under Gensler’s leadership. Armstrong criticized the SEC’s litigation-driven approach, arguing that it has weakened the U.S. crypto industry and driven companies to relocate to more favourable jurisdictions, such as the UAE, El Salvador, and Hong Kong.
The potential shakeup has prompted speculation over Gensler’s successor, with many <a style="color: #0000ff;" href="https://x.com/TodayCryptoRj/status/1853766053722989054?t=piHJOIMp2UieezqPJmipbQ&amp;s=19" rel="noopener noreferrer nofollow">suggesting</a> SEC Commissioner Hester Peirce as a contender. Known in the community as “Crypto Mom,” Peirce has been a vocal critic of the SEC’s enforcement-heavy approach, arguing that regulatory clarity is essential to position the U.S. as a leader in the global digital finance space.
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The post <a href="https://defi-planet.com/2024/11/coinbases-paul-grewal-calls-for-u-s-sec-reform-amid-trumps-re-election-promise-to-fire-gensler/" rel="noopener noreferrer nofollow">Coinbase’s Paul Grewal Calls for U.S. SEC Reform Amid Trump’s Re-Election &amp; Promise to Fire Gensler</a> appeared first on <a href="https://defi-planet.com" rel="noopener noreferrer nofollow">DeFi Planet</a>.

Coinbase’s Paul Grewal Calls for U.S. SEC Reform Amid Trump’s Re-Election & Promise to Fire Gensler

DeFi Planet

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