Paul Grewal, Coinbase's Chief Legal Officer, expressed concern over the US Securities and Exchange Commission (SEC)'s ambiguous stance on FTX's plan to repay creditors using stablecoins or cryptocurrencies. In a filing submitted on Friday, the SEC reserved its right to contest FTX Trading Ltd.'s joint bankruptcy protection plan in the U.S. Bankruptcy Court for the District of Delaware. Following his response to this filing, Grewal stated on the social media platform X that the SEC did not explicitly state that repaying creditors with stablecoins or cryptocurrencies is illegal. The SEC used vague language in its court filing, stating only that "the SEC has not opined on this action." According to federal securities law, the SEC does not opine on the legality of transactions outlined in the plan and reserves the right to challenge transactions involving crypto assets.