Evolution of stances on cryptocurrencies
2025-03-05 20:47:32.302491+01 by Dan Lyke 0 comments
Molly White @molly0xfff@hachyderm.io
Coinbase Chief Legal Officer: the critics who think we’ve bought out the government are refusing to engage with the nuanced and complicated fact that Trump used to be anti-crypto before we started spending hundreds of millions of dollars on politics
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“I find those comments misinformed at best, if I’m being generous, and defamatory at worst,” Paul Grewal, chief legal officer at Coinbase, told The Hill of the backlash.
Some criticism, Grewal argued, fails to consider Trump was once a critic of crypto and at one point called it a “scam.”
Grewal pointed out how Congress moved major legislation in 2023 on market structure, an issue that was met with bipartisan support. The Financial Innovation and Technology for the 21st Century Act in 2023 received support from 71 Democrats in the House.
“The fact of the matter is that President Trump did evolve and transform in his view on crypto, really starting in December 2023,” Grewal said. “In January 2024, we first started to engage with him and his team, but it was against a much more nuanced, complicated and complete history that I think a lot of the critics just don’t want to engage in.”