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Coinbase Chief Legal Officer Calls on Congress to Pass Stablecoin Legislation

Paul Grewal, Coinbase’s chief legal officer (CLO), has called on the United States Congress to pass stablecoin regulations ahead of the Senate Banking, Housing, and Urban Affairs Committee hearing on illicit finance scheduled for April 9.

In a social media post on X, the Coinbase executive, while responding to US Treasury Deputy Secretary Adewale’s written testimony for the hearing, said that if Congress hopes to tackle illicit financing associated with digital assets, stablecoins regulations must be passed without delay.

Willingness to Act Beyond Political Considerations

He further noted that issues like reserve management rules and redemption rights should not be difficult to resolve if there is a genuine willingness to act beyond political considerations.

Treasury DepSec @wallyadeyemo has posted his written testimony for tomorrow’s License.

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