Coinbase CLO: ”Cryptocurrency industry lawsuits should be halted...voters' will is what matters”

Coinbase's chief legal officer, Paul Grewal, said he was "very pleased" to hear of Donald Trump's decision to sue the company.
After Donald Trump was elected for a second term as US President, he asked the US Securities and Exchange Commission (SEC) to change its approach to cryptocurrencies.
On the 6th (local time) on Twitter, Grewal said, "Voters said loud and clear that they want change," and added, "The SEC is prioritizing dialogue and reform over litigation."
"We hope that the US will adopt a regulatory framework that prioritizes innovation," he said, reflecting sentiments from cryptocurrency advocates who are increasingly frustrated with regulatory action by U.S. regulators.
With Trump vowing to fire SEC Chairman Gary Gensler, the SEC restructuring could have ramifications not just for the future of crypto assets in the US, but for the broader cryptocurrency space.
The impact could be far-reaching. Trump pledged to "unite Americans and rebuild our country" after winning the presidential election, and during his campaign he threatened to fire Gensler at the start of his first term.
He said the move was part of an effort to put an end to the anti-cryptocurrency policies of the Biden-Harris administration. During Gensler's term, the SEC closed the centralized cryptocurrency exchange (CEX), CoinBit.
It has taken legal action against several prominent cryptocurrency companies, including ASE and the decentralized exchange (DEX) Uniswap.
In the absence of clear regulatory guidance, cryptocurrency companies are uncertain about whether to comply.
Faced with uncertainty, Grewal argued, "we can solve this through rulemaking."