Coinbase
$2.12B
Paul Grewal, Coinbase’s chief legal officer, requested two letters dated April 25, addressed to OGE acting director Jamieson Greer and new SEC Chair Paul Atkins.
In his letter to Greer, Grewal said, “To regulate technology, you need to understand it. To understand technology, you need to use it”. He also explained that allowing SEC employees to hold crypto would help them develop the knowledge required to design proper regulations for the digital asset industry.
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The ban Grewal is challenging comes from Legal Advisory 22-04, issued by the OGE on July 4, 2022, which blocks SEC staff from buying, selling, or using cryptocurrencies and stablecoins.
In a second letter to Atkins and SEC Commissioner Hester Peirce, Grewal made a similar case but focused more specifically on the SEC’s Crypto Task Force. He said the team assigned to work on crypto policy cannot properly do its job without firsthand experience using digital assets.
Although only the OGE can officially remove the restriction, Grewal suggested, “Issuing waivers to crypto task force members and other staff actively working on task force matters would be consistent with measures already taken in commensurate advisory situations”.
A waiver would allow those staff members to test and evaluate digital assets without breaking any ethics rules.
Meanwhile, the European Data Protection Board (EDPB) has recently released draft guidelines to align the use of blockchain data with EU privacy laws. What do the guidelines entail? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
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