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Coinbase Urges US Department of Justice to Take Action to Halt State-Level Cryptocurrency Enforcement Actions
Summary: According to reports from Cointelegraph, Coinbase is urging the US Department of Justice to intervene in state-level regulatory enforcement actions against cryptocurrencies. In a 14-page letter sent to the DOJ on Monday, Coinbase's Chief Legal Officer Paul Grewal stated that federal officials should take action on states' regulatory enforcement against cryptocurrency companies, and the DOJ ...
According to reports from Cointelegraph, Coinbase is urging the US Department of Justice to intervene in state-level regulatory enforcement actions against cryptocurrencies.
In a 14-page letter sent to the DOJ on Monday, Coinbase's Chief Legal Officer Paul Grewal stated that federal officials should take action on states' regulatory enforcement against cryptocurrency companies, and the DOJ should urge Congress to 'intervene and establish broad preemption provisions.' On Tuesday, Grewal posted on X platform, criticizing Oregon for suing Coinbase for providing services that are legal under federal law, indicating a problem with states overstepping federal authority. He argued that states are trying to fill the regulatory void left by federal agencies under the new government leadership.
Grewal also suggested that the DOJ should issue an opinion letter to make it clear in legislative priorities that federal regulation of digital assets is not subject to state blue sky laws, and that new state licensing and regulatory requirements do not apply to cryptocurrency intermediaries, with retroactive effect.
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Link: Coinbase Urges US Department of Justice to Take Action to Halt State-Level Cryptocurrency Enforcement Actions [Copy]
