Coinbase’s Chief Authorized Officer, Paul Grewal, has reacted to latest remarks made by SEC Commissioner Hester M. Peirce on the “SEC Speaks” occasion.
The annual two-day “SEC Speaks” occasion started Tuesday, offering clues into the Securities and Trade Fee’s priorities for the 12 months.
“SEC Speaks” is a discussion board the place the SEC supplies steering to the authorized neighborhood on guidelines, laws, enforcement actions and lawsuits. The occasion permits the SEC to get its primary messages throughout, and this 12 months’s key topic is “disclosure.”
SEC Chair Gary Gensler, commissioners and different key personnel are giving remarks through the occasion.
“Crypto Mother” Heister Peirce, in her remarks at “SEC Speaks,” focuses on the important thing subject of the decline in real fee and workers engagement with the general public. She provides that the fee — not the workers or market individuals — is responsible.
In response to Peirce, this manifests itself in the best way guidelines are developed as of late: very broad proposals and little SEC engagement in implementation discussions. She went on to say that productive interactions with the SEC have gotten more and more uncommon.
Coinbase CLO Paul Grewal responded in a tweet, supporting Peirce’s statements: “There’s heaps to agree with in Commissioner Hester Peirce’s remarks this week at SEC Speaks.”
There’s heaps to agree with in Commissioner @HesterPeirce’s remarks this week at SEC Speaks. However one suggestion struck me as particularly artistic and unobjectionable to anybody not targeted on a political agenda on the SEC: an advisory committee made up of chief compliance…
— paulgrewal.eth (@iampaulgrewal) April 3, 2024
The Coinbase cryptocurrency alternate had petitioned for clear guidelines on digital property prior to now, which the SEC rejected final December.
Coinbase is now requesting that the federal circuit court docket overturn the SEC’s earlier denial of its petition and require the SEC to start new crypto rulemaking, or at the least clearly clarify its stance.
In the latest authorized growth, U.S. District Choose Katherine Polk Failla dominated final week that the U.S. Securities and Trade Fee’s motion towards Coinbase can proceed.
In that order, the decide additionally agreed to dismiss the SEC’s declare within the case that Coinbase acted as an unregistered dealer by making its Pockets program obtainable to customers.