Coinbase pushes for legislative remedy as it fights SEC suit

Coinbase Global Inc. will push for legislative solutions on crypto rules as it fights a lawsuit by the Securities and Exchange Commission alleging that the company operates an unregistered securities exchange, the firm’s chief legal officer said.

“Even as we’re managing the litigation, we are equally eager to engage in pressing legislative solutions,” Paul Grewal said at an investor conference Monday. “We think the court could and should rule that the case lacks legal merits and that will be the end of it.” If the court disagrees, the case will then proceed through discovery and potentially to a trial, Grewal said. In the meantime, he said he’s hopeful draft legislation addressing the issue will advance in the US House of Representatives by the end of the summer.