$100M In PAC Funding, But Still No Crypto Laws — What Coinbase Wants Washington To Know

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Coinbase's COIN Chief Legal Officer Paul Grewal on Tuesday called on Congress to pass a series of long-awaited crypto bills, stressing that “sensible rules” for digital assets are "critically important" to maintaining America's global competitiveness in finance and technology.

In an interview with CNBC, Grewal emphasized the urgency of passing the Clarity Market Structure Act, the Genius Act focused on stablecoins, and the Anti-CBDC Surveillance State Act.

"It's critically important that we make progress on these bills to preserve America's competitiveness," Grewal said, highlighting the lack of regulatory clarity that currently clouds the digital asset landscape.

Coinbase recently launched a six-figure campaign to rally support for the Clarity Act, the company's top legislative priority, which seeks to define when a digital asset falls under the jurisdiction of the SEC or the CFTC.

Grewal warned that without this foundational framework, even progress on stablecoin legislation would be incomplete.

The Genius Act, which has already passed the Senate, would for the first time recognize stablecoins as legitimate financial infrastructure, enabling institutions to invest with greater confidence.

Also Read: $600M In 1 Day: Why Are Bitcoin, Ethereum ETF Suddenly So Bullish?

Grewal described this as a "critical milestone" in advancing modern payment systems both domestically and internationally.

Addressing political resistance, particularly from Democrats voicing concerns about President Donald Trump's involvement in crypto, Grewal noted that opposition to the bills was limited to a "certain minority."

He said bipartisan support remains strong and underscored that House Democratic leadership is not actively whipping votes against the legislation.

When asked about Fairshake, a crypto-focused political action committee to which Coinbase has now contributed nearly $100 million, Grewal reaffirmed the exchange's long-term commitment to advocating for crypto-friendly candidates on both sides of the aisle.

With President Trump expressing support for crypto regulation and aiming to sign key bills before the August recess, Grewal believes the timeline is realistic.

He sought to reinforce that whether policymakers "love or hate crypto," the best way to address concerns is through comprehensive rules.

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