Cryptocurrency is at a critical point in its evolution. The existential questions have been answered—crypto is here to stay—and now the main issues relate to how it will be regulated (and by whom). Last year, Congress passed the GENIUS Act, landmark legislation governing a particular category of crypto called stablecoins. And when it returns from its August recess, the Senate will consider the CLARITY Act, a comprehensive market-structure bill covering the entire digital-asset ecosystem.

So Molly Abraham, who became the new general counsel of Coinbase last month, assumes her new role at an exciting time for her company—the nation’s largest cryptocurrency exchange—and for the crypto industry more generally. After reviewing her…