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Coinbase Legal Head Goes All-In for a “Rulebook” at SEC

Paul Grewal, Coinbase’s legal brain, just dropped a fiery plea on the U.S. Securities and Exchange Commission (SEC). Hot off Trump’s re-election win, Grewal is calling for a full-on regulatory revamp, ditching the SEC’s sledgehammer tactics for open-minded rulemaking. The crypto underground’s fed up with the lawsuit-heavy, rules-light setup it’s been stewing in under SEC Chair Gary Gensler, and Grewal’s pushing hard for change.

This timing ain’t random either. Trump has gone on record pledging to cut Gensler loose on day one, branding the Biden team’s approach as an “anti-crypto crusade.” The crypto fam sees Trump’s stance as a prime opening to snag some clear, fair guidelines. The hope? Bring a new chair onboard with some real skin in the crypto game.

Gensler Out, Peirce In? The “Crypto Mom” Buzz Heats Up

So, who’s the top pick to run the SEC show if Gensler gets the boot? All signs point to Hester Peirce, a commissioner tagged with the nickname “Crypto Mom” for her pro-crypto rhetoric. Peirce has long trashed the SEC’s sue-first, talk-later approach, arguing that a transparent rulebook is what the scene needs. With Trump’s promises to “turn things around” post-win, Peirce fans are waiting for what could be the agency’s most dramatic reboot yet.

Under Gensler’s reign, the SEC has aimed its legal sights on both Coinbase and Uniswap, putting crypto companies in a nasty compliance bind. No surprise, then, that Grewal’s making noise for a fresh framework, hoping a more flexible SEC boss could finally put the gray-area grind to rest.

Listing Fees Drama: Justin Sun and Andre Cronje Challenge Coinbase’s Claims

But Coinbase has got its own storm brewing outside the SEC ring. Tron’s Justin Sun and Fantom’s Andre Cronje just sparked up a fee feud, claiming Coinbase slapped them with sky-high token listing costs. This clash rings especially loud given CEO Brian Armstrong’s public statement that “listings are free.” Sun says Coinbase asked for $300 million to list Tron, while Cronje claims Fantom’s bill hit up to $300 million as well—massive when Binance lists for $0.

These fee whispers are stoking fresh skepticism around Coinbase’s operations, especially as it pushes for regulatory change. If Grewal’s plea for a rulemaking-driven SEC hits the mark, the exchange’s fee practices might come under the very same scrutiny they’re rallying to overhaul.