Americans Want Regulated Spot Bitcoin ETFs, Says Coinbase's Chief Legal Officer

Crypto News
Crypto News

30 Jun 2023 6:00 PM

People want more safe and regulated crypto investment products, and the market is responding to this, Coinbase’s Paul Grewal believes....

  • Coinbase's chief legal officer, Paul Grewal, believes that the American people want access to more safe and regulated crypto-based investment products.
  • Grewal stated that around 20% of Americans have already bought or sold digital assets, and over 60% believe that the current financial system needs an upgrade.
  • Coinbase sees crypto as an important part of Americans' financial future and is working towards delivering safe and regulated products, including a spot Bitcoin exchange-traded fund (ETF).
  • Grewal criticized the US Securities and Exchange Commission (SEC) for not acting in the best interest of the American people and hindering access to crypto.
  • There is renewed optimism about the possibility of the SEC approving a spot Bitcoin ETF, especially after BlackRock filed an application for such a product.
  • Coinbase has filed a motion to dismiss the SEC's lawsuit against it, arguing that the lawsuit goes beyond existing law and should be dismissed.

The sentiment of the article is generally positive, highlighting the demand for safe and regulated crypto investment products and the optimism surrounding the approval of a spot Bitcoin ETF. However, there is also criticism towards the SEC's actions.

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