Coinbase CLO says dispute with SEC is about 52 million US crypto traders, praises John Deaton

Source Fxstreet
Apr 27, 2024 13:15
  • Coinbase CLO Paul Grewal said the dispute with the US financial regulator is about 52 million Americans that own crypto. 
  • Grewal appreciated Attorney John Deaton for his amicus briefs in support of Coinbase. 
  • Blockchain Association filed an amicus brief in support of the crypto exchange in its defense against SEC. 

Coinbase has seen the Blockchain Association, a group that labels itself as a collective voice of the crypto industry and Attorney John Deaton voice their support for the exchange’s lawsuit against the US Securities and Exchange Commission (SEC). 

Coinbase sees support from amicus curiae

Coinbase Chief Legal Officer (CLO) Paul Grewal took to X to share his appreciation for the Blockchain Association and Attorney John Deaton’s support as amicus curiae. The two completed their filings in favor of Coinbase, supporting the exchange in its legal battle against the US SEC. 

Deaton extended his support to Coinbase’s efforts and in his filing, the attorney says that the SEC is taking an unconstitutional shortcut and accusing the exchange of violating securities laws through the trading of certain tokens. 

Deaton’s participation in the Coinbase lawsuit is encouraging for market participants since the attorney weighed in during Ripple Labs’ clash with the US SEC. Deaton has earned a reputation in circles of crypto traders and digital asset firms. 

CLO Grewal says that Coinbase’s dispute with the SEC is so much more than a legal tussle, it is about an entire industry and 52 million Americans that own crypto. Coinbase is pursuing an interlocutory appeal to the Second Circuit. 

An interlocutory or interim appeal occurs when the ruling by a trial court is appealed while the case proceeds with other aspects. 

Disclaimer: For information purposes only. Past performance is not indicative of future results.
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