Paul Grewal: On the Frontlines of Crypto’s Clarity Fight

As an experienced legal expert, Grewal has been at the forefront of Coinbase’s fight for clear and fair regulations. He has repeatedly testified before Congress, pushing for policies that support innovation. 

Grewal is also active on social media keeping followers updated on crypto news related to the legal sphere. 

Paul Grewal’s Role at Coinbase 

Grewal has been Coinbase’s Chief Legal Officer since 2020. Coinbase, one of the largest cryptocurrency exchanges, allows users to buy, sell, and store digital assets like Bitcoin and Ethereum.

As CLO, Grewal is responsible for overseeing all of the company’s legal matters, including ensuring compliance with laws and regulations. He also handles legal disputes and works with regulators to shape policies that support the growth of the crypto industry.

Before joining Coinbase, Grewal was a director at Epiq, a legal services provider. Prior to that, he served as vice president and deputy general counsel at Facebook and worked as a Magistrate Judge at the U.S. District Court for the Northern District of California earlier in his career.

Grewal received a Juris Doctor (JD) from the University of Chicago and a Bachelor of Science (SB) from the Massachusetts Institute of Technology.

On his X (Twitter) bio, the Coinbase CLO writes:

I talk a little crypto, a lot of law, and way too much Ohio sports.

Paul Grewal’s Fight With the SEC for Clear Crypto Rules 

The U.S. SEC (Securities and Exchange Commission) and Coinbase have had disagreements on several fronts.

In March 2023, the SEC sent Coinbase a Well's Notice, signaling that the regulator was considering enforcement action for a possible violation of securities laws, particularly around the exchange’s crypto listings.

In June, the SEC followed through with a lawsuit. In response, Coinbase filed its own case against the SEC, arguing that the regulator wasn’t providing clear guidelines for the industry.

Coinbase scored a big win in January 2025, when Judge Failla ruled that the company could skip over lower courts and take its case directly to the U.S. Court of Appeals for the Second Circuit.

According to the court, there’s confusion about whether existing rules for traditional securities should apply to crypto. The idea is that the higher court will make the final decision on this issue.

This doesn’t mean Coinbase has won the case or will automatically win the main issue, but it does speed up the process. That means Coinbase will get a decision much faster than if the case had gone through lower courts first.

Paul Grewal: A Major Crypto Advocate Before the U.S. Congress

Over the past few years, Paul Grewal has testified before the U.S. Congress, pushing for clearer and more straightforward crypto regulations.

In his 2023 testimony, Grewal pointed out that 80% of Americans believe the financial system is unfair and argued that crypto could offer a solution. He highlighted Ukraine as an example, where crypto has been used to tackle challenges like monetary stability and secure access to money and services. 

Grewal warned that without clear regulations, the U.S. risks falling behind in crypto innovation. In November 2024, after Trump’s presidential victory, Grewal posted on X, saying the election results showed that voters wanted change. Directing his message at the SEC, he wrote:

Stop suing crypto. Start talking to crypto. Initiate rulemaking now. There's no reason to wait.

Most recently, on February 5, 2025, Grewal testified before Congress at the hearing “Operation Choke Point 2.0: The Biden Admin's Efforts to Put Crypto in the Crosshairs.”

Once again, he brought up the legal roadblocks the crypto industry faces—particularly the difficulties crypto businesses encounter in accessing banking services. He criticized the Federal Deposit Insurance Corporation (FDIC) for its lack of clarity.

Back in 2022, the FDIC sent letters to banks, telling them to pause all crypto-related activities. Then in January 2023, it confused the situation further by stating that banks weren’t actually banned from offering crypto services, as long as they followed existing laws. 

When asked to clarify which activities were risky, regulators promised risk assessments but have yet to provide clear guidelines.

Grewal summed it up bluntly:

This attack illustrates a fundamental issue that transcends the debate over cryptocurrency: the lack of transparency and accountability in regulatory practices.

– Grewal said. 

Will Grewal and the Crypto Industry Finally Get the Regulatory Clarity They Seek?

After years of back-and-forth with regulators, the crypto industry is still waiting for clear regulatory guidelines. Paul Grewal has been at the forefront of this battle, advocating for fair regulations rather than endless legal disputes.

He’s not alone. Other influential figures, such as MARA CEO Fred Thiel, Senator Cynthia Lummis, and COPA (Cryptocurrency Open Patent Alliance) have also been vocal advocates for the crypto sector’s rights. 

They argue that without well-defined rules, innovation will move overseas, leaving the U.S. behind in the global crypto race.

In 2025, regulatory clarity seems closer than ever. 

With Gary Gensler – known for his strict enforcement actions – stepping down, Donald Trump embracing pro-crypto policies, and growing support for crypto in Congress, the industry sees a shift in momentum.

While the timeline for regulatory clarity remains uncertain, one thing is clear: advocates like Grewal won’t back down.