Regulatory Uncertainty Plagues Coinbase and US Government's Tech Leadership

Coinbase's chief legal officer, Paul Grewal, has criticized the US government for its lack of clear crypto guidelines, stating that the country is squandering its global lead in technology. Grewal also said that the SEC's Wells Notice to Coinbase is a "massive overreach" and that the agency has provided no relevant information on how to be compliant with regulations despite meeting with them dozens of times over the last nine months. Grewal believes that if a company like Coinbase can be targeted by the SEC, then so can other crypto firms.