According to Odaily, Coinbase's Chief Legal Officer, Paul Grewal, recently commented on social media platform X regarding a significant legal decision. A panel of judges from the Washington D.C. Supreme Court, appointed by both the Democratic and Republican parties, has ruled that the U.S. Securities and Exchange Commission's (SEC) refusal of Grayscale's Bitcoin Exchange Traded Product (ETP) application was unlawful. This decision highlights ongoing tensions between regulatory bodies and the cryptocurrency industry.
Despite facing strong criticism from the court, SEC Commissioner Caroline Crenshaw voted in favor of rejecting the application once again. Grewal emphasized the importance of this decision for lawmakers, suggesting that senators who support Crenshaw's reappointment should consider the opinions of cryptocurrency voters expressed in November and anticipate their stance in 2026. This ruling and the subsequent reactions underscore the complex regulatory landscape surrounding cryptocurrency and the potential political implications for those involved in its governance.
