Coinbase CLO Pushes for Statutory-Based Crypto Regulation

Coinbase CLO Paul Grewal reiterated the need for cryptocurrency regulation based on the Act amid an enforcement onslaught by the Securities and Exchange Commission. Cryptocurrency stakeholders have continued to push for pro-industry regulations this year with little sign of progress. Grewal and Coinbase have continued to advocate for the same cause on social media.

Coinbase CLO Wants Regulatory Regulation

The community’s push for cryptocurrency rules has researchers scrutinizing the current market position. In a recent post on X (formerly Twitter), Coinbase CLO responded to an educational article on the effects of the status quo by reiterating the legally established rules. According to the study, administrative court rulings encourage agencies such as SECTION refrain from creating legislation and instead take enforcement action.

“…concludes with an example of the application of federal securities law to crypto assets and the inability of the Securities and Exchange Commission to enact rules defining the scope of regulation to demonstrate the effects that the agency’s inability to enact regulations has on regulated industries.”

This is the status quo, as the lack of cryptocurrency regulation leads to a proliferation of SEC lawsuits. As a result, market commentators have pointed to low sentiment combined with a migration of experts to countries with clearer regulations. An example is the companies that have tagged Europe, citing its headquarters for the groundbreaking Markets in Crypto Asset (

Mica) regulation.

“In this industry, you have to read the science, even if you don’t agree with all of it. @tphillips makes a compelling case that enforcement alone doesn’t serve the public interest. We need to legislate in the form of statutes.” Coinbase CLO he wrote.

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Hope lies before us

Even though the scenario has dragged on for years, cryptocurrency enthusiasts say there has been little change in the stance of U.S. lawmakers. This year, progress FIT21 and attempts to suppress Gary Gensler’s SAB 121 project are met with praise in many quarters.

As a result, crypto has become a major election issue pointing to potential regulation. This election cycle has seen a huge surge in crypto Super PAC activity to sponsor pro-market candidates.

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