Paul Grewal, Chief Legal Officer (CLO) at coinbase 
coinbase [email protected] Centralised Exchange 
, took to Twitter to voice his concerns about the Major Questions Doctrine holding in Nebraska. He firmly argues that the Securities and Exchange Commission’s (SEC) interpretation of the “investment contract” regarding digital assets is at odds with the law.
He argued that the SEC’s assertion of authority over all digital assets, except Bitcoin (BTC), is not just staggering but disconnected from the requirement of enforceable rights between enterprises and purchasers.
Read on to know more about his stance.
Bill Morgan Questions Coinbase’s Actions
Digital asset enthusiast and lawyer, Bill Morgan, promptly responds to Grewal’s tweets, raising doubts about Coinbase’s decision to suspend XRP trading while allowing the trading of other coins and its own staking service, deemed a security by the SEC. Morgan expresses frustration with the inconsistency and demands that Coinbase relist XRP if no unlawful actions have been committed.
Related: Ripple Execs Jump into Coinbase Battle! Will Coinbase Get into Pressure and Relist XRP?
Spotlighting Undisclosed Motives
Morgan emphasizes that Coinbase’s alleged inconsistency in handling XRP trading raises concerns about undisclosed motives. He points out that Coinbase has no qualms about allowing trading of other coins that the SEC alleges are securities, despite Coinbase’s own court documents asserting otherwise. Morgan further criticizes Coinbase for its failure to explain this inconsistency, indicating a disregard for shareholder concerns.
“There would either be pauses in trading of other alleged digital asset securities like ADA and Solana or Coinbase would resume secondary market XRP trading,”
Grewal vs Morgan
The core of the disagreement between Grewal and Morgan revolves around Coinbase’s handling of XRP trading and the broader implications of the SEC’s interpretation of securities in the digital asset space. Grewal asserts that the SEC’s position violates the law, while Morgan contends that Coinbase’s actions are inconsistent and raise questions about their motivations.
Morgan concludes his discourse by calling out paul grewal 
paul grewal Chief Legal Officer at coinbase paul grewal Chief Legal OfficerDirector , Coinbase’s Chief Legal Officer, for failing to offer a comprehensive explanation for the platform’s inconsistent stance. It is heartening to see enthusiasts like Morgan holding key players accountable, ensuring that actions are not only compliant but also consistent and fair.
