Why Coinbase is Suing the SEC with Paul Grewal, Coinbase's Chief Legal Officer
Bankless
Bankless
4.7 • 1.2K Ratings
🗓️ 28 April 2023
⏱️ 53 minutes
🧾️ Download transcript
Summary
Paul Grewal, Coinbase's Chief Legal Officer joins Ryan and David to discuss why Coinbase is Suing the SEC. Why did they choose to respond to the SEC's Wells Notice to Coinbase in the way they did? Is Gary playing 4D chess or is he just embarrassing and pushing U.S. crypto innovation outside of the U.S.?
Tune in to hear Paul's thoughts and much more.
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Timestamps:
0:00 Intro
5:44 Why Coinbase is Suing the SEC?
9:10 SEC Giving Crypto Community Rules?
13:14 Why Gary Thinks There's Clarity
15:22 Petition to Give Crypto Rules!
18:10 Why No Clarity Yet?
20:51 What Kind of Rules Do We Want?
23:44 Engaging with the SEC
26:40 Open Conversation?
34:48 Coinbase Wells Notice
42:11 Why is Gary so Confident?
45:28 Battle of Public Opinion
49:42 Does Crypto Regulation Have Hope?
52:45 Closing & Disclaimers
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Resources:
Paul Grewal
https://twitter.com/iampaulgrewal
Coinbase Suing SEC Blog Post
https://www.coinbase.com/blog/coinbase-takes-another-formal-step-to-seek-regulatory-clarity-from-sec-for
Coinbase Wells Notice Video
https://www.youtube.com/watch?v=zq2jf4sBdYE&t=576s
Gary's Clarity Video
https://twitter.com/GaryGensler/status/1651624244445421591?s=20
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Transcript
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| 0:00.0 | Thankless Nation, we have a special bonus episode for you today, because guess what just |
| 0:09.0 | happened? |
| 0:10.0 | Coinbase announced they are suing the SEC. |
| 0:13.2 | Yep, we could do that, apparently, David. |
| 0:16.4 | We've got the Chief Legal Officer from Coinbase who's going to give us all of the details |
| 0:20.4 | in the rundown. |
| 0:21.4 | What's important about this episode, what are we doing today? |
| 0:25.7 | Two big things. |
| 0:27.3 | The big news that just dropped is that Coinbase has responded to the SEC Wells notice. |
| 0:32.6 | So that information got released two hours ago. |
| 0:35.4 | So we are going to talk to Paul, the Chief Legal Officer of Coinbase, who is in that |
| 0:38.9 | response. |
| 0:39.9 | Not only was it a normal response where you dropped up a legal letter and submitted |
| 0:43.0 | to the SEC, which is what you normally do, but it was also a video YouTube response. |
| 0:48.2 | So we got influencer Gary and we got modern Coinbase and these two instrumentable forces |
| 0:54.4 | are colliding and bankless is here for it. |
| 0:56.7 | So that's the first thing. |
| 0:57.7 | And then also in addition to that, Coinbase is also suing the SEC. |
| 1:02.8 | And so we're going to talk about those details. |
| 1:04.3 | What does it mean to sue the SEC? |
| 1:06.3 | I didn't know you could do that. |
| 1:07.7 | I totally didn't know you could do that. |
... |
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