Coinbase’s Chief Legal Officer, Paul Grewal, wrote letters on April 22 to SEC Chair Paul Atkins and the U.S. Office of Government Ethics, arguing that current policies harm effective crypto regulation. Grewal criticizes a rule (Legal Advisory 22-04) that bans SEC staff from owning or using cryptocurrencies, saying it prevents regulators from properly understanding the technology they oversee. This is especially problematic as President Trump’s executive order demands digital finance regulatory proposals within 180 days .
Coinbase calls for: • The Office of Government Ethics to update and rescind the blanket crypto ban. • The SEC to issue waivers for Crypto Task Force members and other crypto-focused staff. • A more nuanced conflict-of-interest policy, allowing some crypto ownership under controlled conditions.
Grewal argues that most crypto activity doesn’t involve securities, and that letting staff engage with crypto would improve regulation. Show Less
