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FollowingPaul Grewal, chief legal officer of Coinbase, will be transferred to advisory position on July 31, and Molly Abraham will take over legal affairs.
Paul Grewal, who has been chief legal officer of Coinbase since 2020, announced that he will be transferred to the company\'s advisory position on July 31. Grewal posted a message through X and LinkedIn, saying that personnel changes at the end of January will lead to new leadership appointments for Coinbase\'s legal team.
Legal team leadership handover
According to Grewal, Molly Abraham, who currently serves as vice president of Coinbase\'s legal department, will serve as the company\'s general counsel, and Ryan VanGrack will take over as vice president. Abraham will be responsible for managing Coinbase\'s legal team in the future. As one of the largest cryptocurrency exchanges in the United States, Coinbase\'s legal appointments have attracted industry attention, especially in the context of a changing regulatory environment.
Paul Grewal announced his transfer to an advisory role effective July 31 and confirmed that Molly Abraham and Ryan VanGrack will assume new responsibilities in the legal department.
The company has not yet finalized who will take over as chief legal officer. The chosen person is expected to play a key role in shaping U.S. cryptocurrency regulations and industry policies. During his tenure, Grewal led the company through a series of high-profile legal challenges, including a lawsuit filed by the U.S. Securities and Exchange Commission (SEC) in 2023.
Political participation increases after SEC lawsuit
In 2023, the SEC accused Coinbase of operating a securities trading platform, broker and clearing house without registration. The case was later dropped during the Donald Trump administration. Since then, Coinbase and its executives have become more active in building relationships with lawmakers in Washington who support cryptocurrency-friendly policies.
Coinbase has now become one of the largest donors to Fairshake, a political action committee that supports politicians seen as sympathetic to the cryptocurrency industry. CEO Brian Armstrong met with former President Donald Trump and publicly supported Congress\'s legislative efforts on cryptocurrency policy.
Molly Abraham confirmed the new position, saying she will take over the leadership of Coinbase\'s legal team, and the handover is expected to be completed by the end of this month.
CLARITY Act remains the focus of attention
In recent weeks, Coinbase executives have stepped up calls for Congress to pass the CLARITY Act (officially known as the Digital Asset Market Structural Clarification Act). The proposal aims to transfer primary regulatory authority over digital assets from the SEC to the Commodity Futures Trading Commission (CFTC).
As the U.S. Senate is currently in recess, voting on the relevant bill will not take place until members resume next Monday, when the bill may be submitted for review and may be put to a vote.
Grewal said he will share more specific details about his future work arrangements in the future. Coinbase has not provided more information on the scope of the transition or details of the upcoming reorganization of the legal department.
