#cryptonews
“Stop suing crypto. Start talking to crypto. Initiate rulemaking now. There’s no reason to wait,” he added. Grewal’s call for regulatory clarity follows months of legal disputes between Coinbase and the SEC, with no resolution in sight.
“I hope @SECGov understands what has happened tonight. On many, many issues, the voters said loud and clear that they want change. Crypto is no exception,” Grewal stated.
“The SEC proclaims the ‘existing’ rules work for digital assets,” he argued in an October 28 post on X, “yet gives no indication as to when the rules apply and how digital-asset firms can possibly comply with them.
The crypto exchange, which was sued by the federal agency in June 2023 for allegedly violating U.S. securities laws, is currently locked in a heated legal battle with the SEC in hopes of obtaining clear digital asset guidelines.
“We will have regulations, but from now on, the rules will be written by the people who love your industry, not hate your industry,” Trump stated, addressing attendees at the Bitcoin 2024 Conference this past summer.
Trump has long advocated for a pro-crypto regulatory framework, promising to enact crypto-friendly regulations as part of his return to the White House.
The former U.S. president previously warned that the blockchain sector would be “living in hell” if he lost this year’s presidential race— though with Trump at 277 electoral college votes, digital asset supporters of the polarizing political figure appear to have little reason for concern.
The New York-born businessman has further pledged to replace SEC Chair Gary Gensler due to his regulation-by-enforcement approach, a method Trump believes has stifled the digital asset industry.