Grewal's Out at Coinbase by July 31 — Legal Chiefs Tagged In ⚖️

Coinbase Chief Legal Officer Paul Grewal will step down from his role at the end of July and transition to an advisory position effective July 31, he announced Thursday in an X thread and LinkedIn post. Grewal, who joined Coinbase as CLO in 2020, will continue serving on the Board of Coinbase National Trust Company. "I will be a Coinbase ally for life and am grateful to @brian_armstrong, @emilemc and the Coinbase board," he wrote on X, adding he would disclose any future role "in due course."

Coinbase Legal Vice Presidents Molly Abraham and Ryan VanGrack will take on expanded positions following Grewal's departure. Abraham will become General Counsel and VanGrack will become Vice Chair. "I'll take the helm of the legal team," Abraham said, while VanGrack will focus on government relations. Whoever assumes the CLO role will inherit significant influence over U.S. crypto policy and regulation.

Grewal steered Coinbase's legal defense through the U.S. Securities and Exchange Commission's 2023 enforcement action that alleged the exchange had operated 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 ties with the White House and lawmakers supportive of digital asset legislation. Coinbase is 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 U.S. President Donald Trump and pressed for crypto-related bills in Congress.

Coinbase executives, including Armstrong, are lobbying lawmakers 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. A markup of the bill could occur as early as next week, according to a Coinbase executive. The U.S. Senate is in a state work period until Monday, when lawmakers return and may take up a vote on the measure. Cointelegraph reached out to Coinbase for additional comment on Grewal's departure but did not receive an immediate response.