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Reading: Paul Clement Joins Coinbase Board to Support Regulatory Battles
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COINTURK NEWS > Cryptocurrency Exchanges > Paul Clement Joins Coinbase Board to Support Regulatory Battles
Cryptocurrency Exchanges

Paul Clement Joins Coinbase Board to Support Regulatory Battles

In Brief

  • Paul Clement joins Coinbase board to support regulatory battles.

  • Coinbase faces challenges from SEC defining altcoins as securities.

  • Paul's experience aims to check federal regulators' power abuses.

COINTURK NEWS
COINTURK NEWS 10 months ago
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Companies, especially US-based cryptocurrency companies, have long needed experienced legal professionals. One of America’s renowned lawyers will now support Coinbase in its regulatory battles. Over the years, the exchange has hired many regulatory agency employees.

Contents
Coinbase NewsCoinbase Case

Coinbase News

After Binance US was toppled by regulators, Coinbase became the largest US-based cryptocurrency exchange by volume. However, this exchange also has to fight regulators because the SEC generally does not differentiate among crypto companies. For example, unless you are SBF of FTX, they don’t bother you before you defraud millions of people.

Former Attorney General of the Bush administration and experienced Supreme Court lawyer Paul Clement will now serve on Coinbase’s board. Among those joining the team is also an employee from OpenAI. Paul, with a 30-year career and over 100 cases before the Supreme Court, will now use his experience for Coinbase.

Coinbase Case

The exchange has issues to resolve. Since the SEC defines almost every altcoin as a security, it has long targeted anyone who ignores its warnings regarding trading and staking services. Coinbase is included in this. Pat Toomey (former Senator) on the exchange’s global advisory board said:

“Coinbase is the gold standard of crypto exchanges because it attracts the best and brightest talents at every level. Paul Clement is no exception. Adding one of our generation’s sharpest legal minds to the board shows that Coinbase is doubling down on its fight for clear rules for crypto.”

For Paul, who wrote an opinion stating that the exclusion of Custodia Bank by the Fed was unconstitutional, the bank’s CEO said:

“Paul is one of the most respected members of the US Supreme Court bar and currently has multiple legal ‘cruise missiles’ targeting federal regulators who ignore laws while trying to kill the law-abiding US crypto industry. Multiple federal regulators are abusing their powers, and Paul’s work ensures these abuses are checked.”

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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COINTURK NEWS 26 July, 2024 - 2:12 am 26 July, 2024 - 2:12 am
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