Paul Grewal, the Chief Legal Officer at COINBASE Global Inc. is set to testify before the United States House Committee on Agriculture later today. As the legal chief for the largest crypto exchange in the United States, Grewal will emphasize the need for clear regulations for the crypto industry. The lawyer will also underscore the importance of the Digital Asset Market Structure discussion draft, which was introduced by House Republicans last week.
Coinbase: Proposed Bill Needed For Balanced Crypto Regulations
Paul Grewal took to Twitter recently to inform his followers about his upcoming appearance on Capitol Hill. The Coinbase executive also shared a of the testimony that he plans to deliver before the Congressional committee. Grewal stated that he will use the opportunity to present his company’s views on the Digital Asset Market Structure Discussion Draft, which was unveiled by House Agriculture Committee Chairman G.T. Thompson and Financial Services Committee Chairman Patrick McHenry last week.
Grewal stated that his testimony would revolve around three key topics: The U.S. falling behind due to a lack of clear regulations leading to the departure of crypto innovation, Crypto is solving real-world problems, and a clear path is needed in order to protect responsible innovation, and that the Digital Asset Market Structure bill is a strong step towards regulatory clarity for the crypto industry.
Coinbase believes the Digital Asset Market Structure Discussion Draft is a good first step in developing a workable and balanced regulatory regime designed for crypto.”
Paul Grewal, Chief Legal Officer at Coinbase
Paul Grewal plans to highlight the developments made in the European Union, the UK, Singapore, and China (through Hong Kong) in terms of crypto regulation, translating to a potential threat to the United States’ economic future and national security. The Coinbase executive will also highlight how the Discussion Draft will benefit and protect the over 20% of Americans that own and use crypto assets.
