Paul Grewal, Coinbase’s chief legal officer, has urged the Securities and Exchange Commission (SEC) to reassess its regulatory approach to bitcoin in light of Donald Trump’s recent election victory. Grewal pushed for a structure that values open conversation and innovation, shifting away from the SEC’s litigation-heavy approach under its present leadership. This shift reflects a rising mood in the crypto business, where many are dissatisfied with regulatory uncertainty and increasing enforcement operations against large crypto companies.
Trump’s campaign featured a commitment to remove SEC Chair Gary Gensler, which he claimed would put an end to the previous administration’s “anti-crypto agenda”. Under Gensler’s tenure, the SEC pursued a number of high-profile litigation cases, including charges against Coinbase and the decentralized exchange Uniswap, putting more pressure on the crypto sector to manage compliance problems in the absence of clear standards.
Amid discussion of an SEC shakeup, speculation has grown about prospective successors who might take a more balanced approach. Hester Peirce, an SEC commissioner recognized for her crypto-friendly stance, is often suggested as a potential contender. Peirce, nicknamed “Crypto Mom” by the industry, has continuously advocated for regulatory clarity and stated that fostering innovation in digital assets accords with the larger public interest and promotes the United States’ position in the global financial scene.
As Trump’s administration takes shape, the crypto industry is intently monitoring any regulatory changes that might pave the way for more crypto-friendly laws, perhaps providing much-needed clarity and spurring future growth in the field.
