'We have made no decision at all to delist assets:' Coinbase Chief Legal Officer

Quick Take

Coinbase Chief Legal Officer Paul Grewel told The Block that the firm hasn’t yet decided whether to delist any assets.
The stance comes a day after the SEC sued Coinbase for allegedly violating security regulations.
After the SEC sued crypto exchange rival Binance a day earlier, the firm’s U.S. arm pulled about 100 of its trading pairs.

Coinbase Chief Legal Officer Paul Grewel says the firm has not yet decided whether it will delist any assets from the crypto exchange in the wake of the lawsuit its facing from the U.S. Securities and Exchange Commission.

"To address the question of whether or not we're going to delist any of these assets, of course we're always looking at new facts, new information, new allegations to understand whether or not our previous analysis was incorrect," Grewel says in a forthcoming episode of The Scoop. "But as I sit here today, we have made no decision at all to delist assets, and we remain confident in our original analysis."

Grewel's comments come after Coinbase was sued by the SEC on June 6 over allegations that it violated U.S. securities rules by operating as a broker, exchange and clearing agency without registering as such.

The SEC had sued the rival crypto exchange Binance and its CEO Changpeng 'CZ' Zhao on June 5. The firm's American arm Binance.US opted to pull about 100 trading pairs and suspend its OTC Trading Portal on June 7 in response.

For now, it seems Coinbase will not follow suit.

"We believe we are operating not just a lawful, but an extraordinarily positive and productive business. And so until we are convinced that anything that we do is in violation of law, we're going to continue to run our business as usual," Grewel said.