Coinbase Exec Advocates for SEC Reform After Trump’s Election

Paul Grewal, chief legal officer at Coinbase, has called for the U.S. SEC to change how it handles cryptocurrency. After Donald Trump’s victory in the presidential race, Grewal expressed hope for a new regulatory approach. 

He wants a framework that encourages open dialogue and innovation instead of constant legal battles. Many in the crypto world share his frustration with the SEC’s enforcement actions and lack of clear guidelines.

A Change in Leadership and What It Could Mean for Crypto

Trump’s win could bring significant changes to the SEC. During his campaign, he promised to fire SEC Chair Gary Gensler on day one. Trump criticized Gensler’s aggressive actions against crypto and labeled them part of the Biden administration’s “anti-crypto crusade.” 

If Gensler is removed, the future of crypto regulation in the U.S. could shift dramatically. Under Gensler’s leadership, the SEC has taken legal action against major crypto companies, including Coinbase and Uniswap. 

Grewal argues that clearer rules could prevent confusion and help crypto companies comply more easily. He believes the SEC should focus on rulemaking rather than enforcement.

Could Hester Peirce Be the Solution?

As Trump considers who will replace Gensler, many are hopeful that Hester Peirce, an SEC commissioner, could take the lead. Peirce is known for her pro-crypto stance and has often criticized the SEC’s enforcement-heavy approach. 

Peirce has argued that clear rules would benefit both the crypto industry and the U.S. position in global digital finance. If Trump appoints someone like Peirce, the SEC could adopt a more balanced approach. 

For now, the future of crypto regulation remains uncertain. However, with Trump’s potential SEC shakeup, the industry may finally get the clarity and support it has long sought.