Coinbase presses to axe rule banning SEC staff from holding crypto
Summary
SEC staff should be allowed to use cryptocurrency to enhance their understanding and improve regulatory frameworks, according to Coinbase chief legal officer Paul Grewal. He argues that current restrictions, stemming from Legal Advisory 22-04, hinder the SEC's ability to develop effective regulations for digital securities. Grewal emphasizes that waivers should be issued to Crypto Task Force members to facilitate their engagement with the technology they are tasked to regulate. He notes that former SEC Chair Gary Gensler, known for a stringent regulatory approach, resigned in January 2023, leading to a shift in the SEC's stance, including plans to drop enforcement actions against certain crypto firms.
