TechFlow News, August 7 — According to Coindesk, Coinbase Chief Legal Officer Paul Grewal stated that cryptocurrency should remain nonpartisan. He emphasized that successful crypto policy must transcend party lines and bring together both sides to drive policy modernization.
At the Bitcoin Nashville conference, Republican candidate Donald Trump received thunderous applause when he pledged to fire Securities and Exchange Commission (SEC) Chair Gary Gensler. While Republicans have made crypto a key issue, Grewal hopes it won't become a partisan battleground. Speaking at the Asia Blockchain Summit in Taipei, he warned that politicization threatens the sustained growth of cryptocurrency.
Grewal believes the U.S. needs to move beyond outdated frameworks such as the Howey Test to align with the realities of 21st-century finance. In contrast, he noted, regulators in Asia have demonstrated greater flexibility in rule-making and the ability to learn from industry feedback. He praised Hong Kong’s 2022 autumn review of its digital asset licensing framework as a more forward-looking approach.
He acknowledged that meaningful dialogue between government and policymakers on crypto remains challenging in the U.S., but expressed optimism about the country's future, noting that both major political parties are beginning to recognize the importance of cryptocurrency. "At the end of the day, crypto is code," he concluded. "There are many other issues we can argue about in the U.S. and around the world, but we should be able to reach consensus on what code does and how it works."
