Paul Grewal: Cryptocurrency Needs to Avoid Politicization; Bipartisan Support Promotes Industry Development
Publication Time:2024-08-07 18:27:07
Paul Grewal, the Chief Legal Officer of Coinbase, emphasized the necessity for the cryptocurrency sector to avoid politicization, which he believes will contribute to the industry's sustained growth and development. He stated that the modernization of U.S. cryptocurrency policies requires joint support from both political parties; otherwise, it may slow down or threaten its progress. Grewal criticized the 'blind and mechanical' application of the Howie Test to blockchain and cryptocurrencies, pointing out that precedents set by the Supreme Court should be flexibly adjusted to address new technological issues arising in markets and economies. He noted that compared to the United States, the Asian region pays less attention to ideological matters when dealing with specific issues, which promotes technological advancement. Despite the challenges, Grewal holds an optimistic view of the U.S. cryptocurrency industry, believing that both major political parties have recognized the importance of cryptocurrencies and are seeking consensus.
Cryptocurrency
bipartisan support
non-partisanship
policy modernization
howie test