• Coinbase CLO Paul Grewal criticizes SEC’s unclear guidance on FTX’s creditor repayment plans.  
• The SEC reserves the right to challenge the legality of repaying creditors with crypto assets.  
• Grewal calls for more regulatory clarity to better serve investors and markets. 

Coinbase’s Chief Legal Officer Paul Grewal has taken to X to criticize the U.S. Securities and Exchange Commission (SEC) for its unclear stance on FTX’s proposal to repay creditors using stablecoins or other digital assets. Grewal argues that the SEC’s approach creates uncertainty and urges the agency to provide clearer guidance for the crypto market.  

The SEC recently issued a notice cautioning the FTX estate that it might oppose any attempts to repay creditors with stablecoins or other digital assets. The SEC’s statement, however, stopped short of declaring such actions illegal. Instead, the agency stated that it “reserves its rights to challenge transactions involving crypto assets.”

Reacting to the SEC statement, Grewal took to X (formerly Twitter) to criticize the SEC for its lack of clarity, arguing that this ambiguity creates market uncertainty. He pointed out the SEC’s ref…

The post Coinbase CLO Calls Out SEC’s Unclear Stance on FTX Repayment Plan appeared first on Coin Edition.

• Coinbase CLO Paul Grewal criticizes SEC’s unclear guidance on FTX’s creditor repayment plans.  
• The SEC reserves the right to challenge the legality of repaying creditors with crypto assets.  
• Grewal calls for more regulatory clarity to better serve investors and markets. 

Coinbase’s Chief Legal Officer Paul Grewal has taken to X to criticize the U.S. Securities and Exchange Commission (SEC) for its unclear stance on FTX’s proposal to repay creditors using stablecoins or other digital assets. Grewal argues that the SEC’s approach creates uncertainty and urges the agency to provide clearer guidance for the crypto market.  

The SEC recently issued a notice cautioning the FTX estate that it might oppose any attempts to repay creditors with stablecoins or other digital assets. The SEC’s statement, however, stopped short of declaring such actions illegal. Instead, the agency stated that it “reserves its rights to challenge transactions involving crypto assets.”

Reacting to the SEC statement, Grewal took to X (formerly Twitter) to criticize the SEC for its lack of clarity, arguing that this ambiguity creates market uncertainty. He pointed out the SEC’s ref…

The post Coinbase CLO Calls Out SEC’s Unclear Stance on FTX Repayment Plan appeared first on Coin Edition.