Paul Grewal, the Chief Legal Officer (CLO) of Coinbase, has become a major voice in the continuing discussion about the legal classification of Ethereum by the United States Securities and Exchange Commission (SEC), arguing in favor of the platform’s non-security status.
Broader Recognition Of Ethereum Security Nature
Taking to the X (formerly Twitter), the Coinbase CLO Paul Grewal expressed his belief in Ethereum as a commodity. According to Grewal, he knows ETH is a commodity, the entire crypto community knows this, and the Commodity Futures Trading Commission (CFTC). Thus, it is imperative that the SEC acknowledge its continued belief that ETH is a commodity and stop playing games.
He further expressed his appreciation toward Consensys for filing a lawsuit against the regulatory watchdog, opposing the illegal abuse of power by the agency.
On Thursday, Consensys claimed in its filing that the SEC has planned enforcement proceedings to regulate ETH as a security as part
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