Coinbase's Chief Legal Officer, Paul Grewal, will move to an advisory role on July 31. Legal VPs Molly Abraham and Ryan VanGrack will take over as general counsel and vice chair, respectively. Grewal's successor will influence US crypto policy, following Coinbase's legal battles and advocacy for crypto-friendly legislation.
Coinbase's chief legal officer Paul Grewal removed a lawsuit filed by New York Attorney General Letitia James from state to federal court, arguing the case raises disputed questions of federal law over how event contracts are regulated. The Tuesday lawsuit alleged Coinbase and Gemini's prediction market offerings violate New York gambling law by allowing users between 18 and 20 to bet on sports, entertainment and elections without a state gaming license. The move escalates a broader legal fight with 11 states pursuing action against prediction market platforms, contradicting the CFTC's stance that it has exclusive jurisdiction over these markets.
