Paul Grewal, Coinbase’s Chief Legal Officer and General Counsel, issued a statement in response to the US Securities and Exchange Commission’s (SEC) lawsuit against the exchange, strongly criticizing the agency’s enforcement-only approach.
He argued that this approach is damaging not only Coinbase but the US’ economic competitiveness as a whole, and added that legislation with fair and transparent rules for the digital asset industry should be developed in lieu of litigation.
Beside this, CEO Brian Armstrong also tweeted about the issue, noting that the SEC’s lawsuit was heavily focused on the issue of whether the exchange had listed securities.
He voiced his confidence that Coinbase had taken a correct approach to this, and suggested that if regulation by enforcement is the only way to bring clarity to the subject then going to court is the way to do it.
