With U.S. regulators cracking down on digital assets, Coinbase's Chief Legal Officer Paul Gewal says Coinbase is just looking for consistency.
“We’re not saying we don’t want to be regulated. We’re just saying that regulation all ought to occur under the rule of law that is in a manner that’s consistent with what Congress wrote,” he added.
One particular inconsistency Grewal points out is how the Securities and Exchange Commission’s request for crypto exchanges to register as national securities exchanges clashes with Coinbase's explicit policy of not listing securities:
“For there to be no distinction drawn between the products that are securities and the products that aren’t, is effectively saying that we would have to agree that the rule of law doesn’t matter and that even though Congress limited the SEC’s jurisdiction to securities and securities alone, we should come in and register anyway,” Grewal said.
During this episode, Chaparro and Grewal also discuss:
- How Coinbase's staking product differs from Kraken's
- Why it's in the U.S. government's interest to protect stablecoins
- What it means to receive a Wells notice
This episode is brought to you by our sponsors Circle, Railgun, Flare Network, NordVPN
About Circle
Circle is a global financial technology company helping money move at internet speed. Our mission is to raise global economic prosperity through the frictionless exchange of value. Visit Circle.com to learn more.
About Railgun
Railgun is a private DeFi solution on Ethereum, BSC, Arbitrum and Polygon. Shield any ERC-20 token and any NFT into a Private Balance and let Railgun’s Zero-Knowledge cryptography encrypt your address, balance and transaction history. You can also bring privacy to your project with Railgun SDK and be sure to check out Railgun with partner project Railway Wallet, also available on iOS and Android. Visit Railgun.org to find out more.
About Flare
Flare is an EVM-based Layer 1 blockchain designed to allow developers to build applications that can use data from other blockchains and the internet. By providing decentralized access to a wide variety of high-integrity data from other blockchains and the internet, Flare enables new use cases and monetization models. Build better and connect everything at Flare.Network.
About NordVPN
NordVPN is essential for keeping crypto transactions secure, hiding your IP address, and protecting your devices from hackers and data theft. Get premium cyber-security on up to six devices for the price of a cup of coffee a month. Get your exclusive NordVPN Deal and try it risk-free now with a 30-day money-back guarantee: Visit https://nordvpn.com/thescoop
