Paul Grewal (@iampaulgrewal) on X (original) (raw)

Chief Legal Officer

@coinbase

. I talk too much crypto, a lot of law, and not enough Ohio sports.

• 
  Today
  @coinbase
  is announcing our decision to leave Delaware and reincorporate in Texas. This decision was not made lightly, but we’ll always do what’s best for our customers, our employees, and our shareholders. 1/6
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  Privacy wins. Today the Fifth Circuit held that
  @USTreasury
  ’s sanctions against Tornado Cash smart contracts are unlawful. This is a historic win for crypto and all who cares about defending liberty.
  @coinbase
  is proud to have helped lead this important challenge. 1/6
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  We've read Judge Torres' thoughtful decision. We've carefully reviewed our analysis. It's time to relist.
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  I've tried cases to Delaware juries, enjoyed friendships with Delaware judges, and taught classes to Delaware lawyers. The Hotel DuPont is a familiar stay, and I've bought too many shirts and ties to count at Wright & Simon in Wilmington. And so I share this with affection, not
• 
  Coinbase received a Wells notice from the SEC. After years of asking for reasonable crypto rules, we're disappointed that the SEC is considering courts over constructive dialogue. But if courts are required, so be it. We'll defend the rule of law. 1/15 coinbase.com/blog/we-asked-…
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  Today, we filed a narrow action in the U.S. Circuit Court to compel the SEC to respond “yes or no” to a rulemaking petition we filed with them last July asking them to provide regulatory guidance for the crypto industry. 1/4 coinbase.com/blog/coinbase-…
• 
  We screwed up and we are sorry. Yesterday we shared an overview of the
  $pepe
  meme coin to provide a fact-based picture of a trending topic. This did not provide the whole picture of the history of the meme and we apologize to the community.
• 
  You've long wanted the frog. Well, soon you'll get the frog.
  @coinbase
  is adding PEPE to our listing roadmap with the goal of listing later today. Thanks for your patience.
• 
  "Case dismissed." Two words that every defendant in every case yearns to hear. Today we can announce upon full Commission approval
  @SECGov
  is dropping our case. There will be no settlement or compromise-- a wrong will simply be made right. 1/4
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  Most days I love being a lawyer. Today is one of them.
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  Don’t be misled that Judge Torres ruled that sometimes XRP is a security and sometimes it isn’t. That’s exactly the opposite of what she ruled: XRP itself is NEVER a security. “ Page 15: "XRP, as a digital token, is not in and of itself a ‘contract, transaction[,] or scheme’
• 
  Today, the Court decided that our SEC case will move forward on most of the claims, but dismissed the claims against Coinbase Wallet. We were prepared for this, and we look forward to uncovering more about the SEC’s internal views and discussions on crypto regulation. 1/6
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  I hope
  @SECGov
  understands what has happened tonight. On many, many issues, the voters said loud and clear that they want change. Crypto is no exception. Stop suing crypto. Start talking to crypto. Initiate rulemaking now. There's no reason to wait.
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  Earlier tonight the Third Circuit issued a short order in Coinbase’s mandamus action today. The court noted the SEC’s suit against us this morning and asked the SEC whether that means the SEC has decided to deny our pending petition for rulemaking. The SEC has 7 days to respond.