Coinbase Exec Slams Banks for Blocking Crypto Charter Bid
Coinbase Chief Legal Officer Paul Grewal publicly condemned traditional banking groups for opposing the crypto exchange’s national trust bank charter application, accusing them of prioritizing protectionism over consumer protection.
The pushback from banking associations intensified this week as both community banks and Wall Street lobbying groups mounted coordinated efforts to block crypto firms from securing federal banking licenses.
Grewal fired back after the Independent Community Bankers of America urged federal regulators to deny Coinbase’s charter application for its subsidiary, Coinbase National Trust Company.
“Imagine opposing a regulated trust charter because you prefer crypto to stay… unregulated,”…
