Crypto trading giant Coinbase Exchange has challenged a recent proposition by the United States Securities and Exchange Commission (SEC) to expand the definition of exchanges. Taking to the X social media platform, the trading firm’s Chief Legal Officer (CLO) Paul Grewal pointed out that it has lodged an official opposition to the new blanket definition.
Coinbase and SEC: Unending Regulatory Disparity
Is it not uncommon for the exchange and the markets regulator to go toe-to-toe on regulatory matters. Notably, Paul Grewal pointed out that the commission’s inclusion of Decentralized Exchanges (DEXs) in the definition did not come with critical analysis.
Today @coinbase submitted another set of concerns with @SECgov over the agency’s proposal to expand the definition of “exchange.” In short, the SEC’s proposal lacks critical analysis, rests on irrational assumptions, fails to show that there is any problem in need of regulation,…
— paulgrewal.eth (@iampaulgrewal) August 1
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