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

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

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.

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