Americans want safe, regulated crypto products that include spot bitcoin ETFs, according to Coinbase Chief Legal Officer Paul Grewal.
The SEC has yet to approve a spot bitcoin ETF, citing concerns of manipulation and fraud in the markets over previous years.
“When the U.S. government, the SEC in particular, stands in the way of that access, they are really standing in the way of what the American people have said, clearly, they want,” Grewal said.digital assets in question were not securities and raising concerns about the agency’s interpretation of securities laws.
Grewal also cited Coinbase’s public listing back in April 2021 when speaking with Bloomberg, citing its “six month exhaustive review” with the agency. SEC Chair Gary Gensler has said many cryptocurrencies are securities and has repeatedly said exchanges need to register with the agency. © 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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