SEC Faces Reckoning — Crypto Industry Awaits New Dawn in Washington

Coinbase Chief Legal Officer Paul Grewal foresees “significant changes” to the U.S. Securities and Exchange Commission (SEC)’s crypto caseload when a new chair is appointed under a Trump administration.

Coinbase’s legal chief expects “significant changes” to the SEC’s crypto caseload with a new chair.

Coinbase Chief Legal Officer Paul Grewal predicts a Trump-led SEC will narrow its focus to fraud.

Coinbase’s legal chief has predicted “significant changes” to the U.S. Securities and Exchange Commission (SEC)’s crypto caseload when a new chair is appointed under a Trump administration. In an interview with Fox Business, Grewal anticipated that a fresh SEC leader might refocus enforcement on fraud and scams rather than broader industry targets.

Grewal’s comments come as President-Elect Donald Trump has already promised the crypto community that he will remove Gensler as SEC chair on his first day in office. This signals potential shifts in the agency’s approach to digital asset regulation.

Meanwhile, Ripple CEO Brad Garlinghouse has criticized U.S. leaders’ approach to crypto regulation, arguing it could drive voters in swing states to reconsider their support. In a post on social media platform X, Garlinghouse called on Democrats to address Gensler’s actions, accusing the SEC chair of overstepping legal boundaries.

“I hope the Dems find a way to hold Gary Gensler accountable for ignoring the law,” he wrote on Thursday, adding that crypto critics like Gensler and Senator Elizabeth Warren contributed to a “Red Reset”—a shift in political momentum that may sway key voters in future elections.

According to Garlinghouse, dissatisfaction with current crypto policies could gradually shift voter loyalty away from Democrats.