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Highlights
- Paul Clement, Chris Lehane, and Christa Davies join Coinbase board
- Coinbase strengthens board with Supreme Court veteran Clement.
- New board members set to enhance Coinbase's regulatory strategy.
Chevron Case Winning Lawyer Paul Clement, Chris Lehane, and Christa Davies have joined Coinbase’s board of directors. This strategic move comes at a time when Coinbase is in the process of enhancing its legal and strategic standing in light of the existing legal challenges in the cryptocurrency market.
Chevron Case-Winning Lawyer Joins Coinbase Board
The lawyer who recently brought victory to the Supreme Court by overturning the Chevron doctrine, Paul Clement, has been recently joined the board of directors at Coinbase, the largest cryptocurrency exchange in the U.S.
Clement’s legal background, particularly his knowledge of regulation and Supreme Court, will be crucial as Coinbase has to deal with several lawsuits from the Securities and Exchange Commission.
In June, the Supreme Court overruled in the Chevron v. National Resources Defense Council case from 1984, which had allowed agencies to issue broad regulation. This ruling, as Clement argued, prevents agencies such as the SEC from making administrative changes without the approval of Congress, stating that the previous practice of deferring to agencies was unsustainable.
Currently, Coinbase is involved in three legal cases with the SEC, which underlines the necessity for the exchange to have strong legal approaches. Clement’s history of over 100 Supreme Court appearances and the profound effects on federal regulatory power is consistent with Coinbase’s aim to establish clearer rules for the cryptocurrency industry.
Diverse Expertise Added to Coinbase’s Board
Accompanying Paul Clement are Chris Lehane and Christa Davies, both of whom will add value to Coinbase’s board. Lehane, who has served as a political strategist and advisor for numerous political campaigns, has been instrumental in influencing policy and advocacy. His experience is expected to be useful in helping Coinbase in the political side of the regulation of cryptocurrencies.
Christa Davies adds financial management experience from her time as CFO at Aon and her positions on the boards of Stripe and Workday. She will be particularly useful to Coinbase as she has experience in driving financial discipline and shareholder value in a challenging market environment.
It's honestly not fair. I already had the best job in law. And now I'll have the advice and counsel of Paul Clement– the leading Supreme Court light of our time. I'd guess we will have a few things to discuss… https://t.co/hfKZJu3AY4
— paulgrewal.eth (@iampaulgrewal) July 25, 2024
Coinbase’s Chief Legal Officer, Paul Grewal, welcomed Clement to the team, noting that the Supreme Court experience would be valuable to the company’s legal decision-making. COO Emilie Choi also welcomed the new members saying that they are expected to bring a lot of value in areas such as regulatory environment and how to position Coinbase in the intersection of finance, technology, and law.
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