- Coinbase’s legal chief Paul Grewal calls for SEC to adopt a pro-innovation regulatory approach.
- Trump’s plan to remove SEC Chair Gensler raises speculation on potential pro-crypto leadership.
- Coinbase faces scrutiny following allegations of high listing fees by crypto figures Sun and Cronje.
Following Donald Trump’s election to a second term, Coinbase Chief Legal Officer Paul Grewal urged the U.S. Securities and Exchange Commission (SEC) to adopt a regulatory stance that supports dialogue and innovation within the crypto sector. The statement reflects a shared sentiment among crypto advocates frustrated by recent enforcement actions from the SEC under current Chair Gary Gensler.
Source: Paul Grewal on X
Trump’s Election and Potential SEC Overhaul
During his campaign, Trump pledged to fire Gensler immediately upon taking office, a promise that now holds heightened relevance following his election win. Gensler’s tenure has seen high-profile legal actions against crypto entities, including Coinbase and decentralized platform Uniswap. Many industry voices believe clearer regulatory guidelines would help reduce uncertainty, a point Grewal emphasized through his call for “rulemaking” over litigation.
Speculation is building around potential successors to Gensler, particularly those seen as pro-crypto. Hester Peirce, an SEC commissioner known for her favorable stance on digital assets, is frequently mentioned as a possible candidate. Peirce has publicly criticized the SEC’s enforcement-led approach, advocating instead for regulatory clarity to foster growth in digital finance and strengthen the U.S. position in global markets.
Coinbase Faces Allegations on Listing Fees
Even as Coinbase presses for regulatory reform, it faces recent scrutiny over alleged high listing fees. On November 4, Tron founder Justin Sun claimed that Coinbase requested $300 million in fees to list Tron’s TRX token. Andre Cronje, founder of Fantom Network, also alleged that Coinbase proposed listing fees of up to $300 million for Fantom, contrasting with Binance, which reportedly charged no fee.
These statements stand in contrast to Coinbase CEO Brian Armstrong’s assertion on November 2 that “Asset listing on Coinbase are free.” The claims have reignited discussions around transparency in token listing practices among top exchanges.
