- Paul Grewal tweeted that his fellow CLOs have been “the happiest and most optimistic group of individuals”.
- The Coinbase CLO declined to share particular details about the rally he attended on the College of Chicago.
- Grewal criticized the SEC’s impractical proposal to incorporate DEX in its definition of exchanges.
Confronted with a combative regulator attempting to chase the US cryptocurrency trade into oblivion, one could possibly be forgiven for imagining the highest attorneys at Coinbase and Binance will need to have felt the warmth this week. Not so, says Coinbase CLO Paul Grewal, who claimed {that a} June 15 CLO assembly on the College of Chicago was “truthfully the happiest, most optimistic group of individuals I’ve ever had.” joined for a very long time”.
In a sequence of tweets, Grewal remained tight-lipped about who attended, citing the Chatham Home rule, which prohibits the discharge of such data. He, nonetheless, thanked the Dean of the College of Chicago Regulation College and warranted his supporters that “our most necessary companies are in very succesful authorized palms.”
Grewal’s firm was sued by the Securities and Alternate Fee (SEC) for allegedly working an unregistered inventory change on June 6, the identical day he testified earlier than a congressional committee, urging the federal government to supply a bundle clear rules for digital belongings.
Because the SEC lawsuit progresses, the Coinbase CLO continues to be a robust advocate for crypto. On June 15, he shared a response to the SEC’s proposal to quietly increase the definition of exchanges to incorporate decentralized exchanges (DEXs) with out informing the general public first. Grewal identified that this proposal violates the Administrative Process Act, as it’s not attainable for a DEX to register as an change.
The SEC continued to pull its ft this week, flouting a federal courtroom order that required a response to Coinbase’s long-running rulemaking petition. After ignoring the petition for a 12 months, the SEC was compelled to reply with a writ of mandamus filed by Coinbase. The SEC stated it had made no choice on the movement and was later accused of being “bordering on disrespectful” to the courtroom.
