Paul Grewal, Coinbase’s Law Director Paul Grewal, will witness at the Operation Chookepoint 2.0 session to be held before the US Senate Banking Committee. In the session, the restrictions imposed on the crypto sector will be evaluated within the scope of investigations regarding the regulatory practices of the sector.
Session Details and Witness List
In the sessions to be carried out separately by the Senate and the Assembly, expert witnesses represented by different institutions will take part. Paul Grewal, Anchorage Digital Founder Nathan McCauley, WSPN CEO Austin Campbell and other expert names will be listened to. Legislatives, the sector’s access to banking services will be examined in the past work on the restriction.
Discrimination in banking
Coinbase questioned the role of regulatory institutions in the light of documents that have emerged with the US FDIC in recent weeks. The documents show that FDIC instructs banks to restrict financial services to the crypto sector. These developments are examined in depth by the Coinbase legal team and the details are expected to be shared in the session.
With the statements of Anchorage Digital and Fred Thiel, the restrictive measures that are tried to be applied in various fields of the sector will be raised. While the effects of legal processes and regulations on the sector are discussed, the control of existing practices comes to the forefront.
Paul Grewal stated that in the session, the works aimed at removing the crypto sector from the banking services in the past within the scope of the inspection meeting of the legislators will be examined.
“The audit meeting of the legislators aims to examine the work to exclude the crypto sector from banking services in the past.” -Paul Grewal’s (prepared) statement:
Among the members of the Assembly, the scope of the session could be expanded and new witnesses could be added. Many names in the sector have given a common opinion on the need to inspect the regulatory steps to be applied.
The session may form a wide -participation basis for monitoring regulations in the sector and evaluating the effects of existing restrictive steps. The statements of the specified witnesses may provide data for future regulations and reveal the attempts of the crypto sector to be isolated from the financial system.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
