Coinbase's Top Lawyer Steps Down July 31 — Legal Briefs Now in New Hands ⚖️

Coinbase chief legal officer Paul Grewal will transition to an advisory role at the exchange on July 31, he announced in a Thursday X thread and LinkedIn post. Grewal, who has held the CLO position since 2020, said Coinbase's legal vice presidents Molly Abraham and Ryan VanGrack will step into new roles following his departure at month's end. Abraham, set to become general counsel, said she would "take the helm" at the exchange's legal team, while VanGrack will serve as vice chair. Whoever ultimately fills Grewal's shoes as CLO is expected to wield significant influence over US crypto policy and regulation.

Grewal led Coinbase's legal department through the US Securities and Exchange Commission's 2023 enforcement action, which alleged the exchange had been operating as an unregistered securities exchange, broker and clearing agency. That lawsuit was later dismissed under the Trump administration. Since then, Coinbase and its executives have cultivated close ties with the White House and lawmakers favoring crypto-friendly policies. The company ranks among the top contributors to the Fairshake political action committee, which funds media backing politicians it considers "pro-crypto," and CEO Brian Armstrong has met with US President Donald Trump while advocating for digital asset legislation in Congress.

Grewal added that he would announce a potential new position "in due course." Cointelegraph reached out to Coinbase for additional details on Grewal's departure but did not receive an immediate response.

Coinbase executives, including Armstrong, continue pressing Congress to pass the Digital Asset Market Clarity Act (CLARITY), which would largely shift oversight of digital assets from the SEC to the Commodity Futures Trading Commission. The US Senate is in a state work period until Monday, when lawmakers return and could take up a vote on the bill. CLARITY Act markup could happen as early as next week, according to a Coinbase executive.