In a fascinating move, Coinbase recently added Paul Clement to its Board and publicly stated that his addition will help the company push back against the SEC. The addition of Clement, who is fresh off a victory at the Supreme Court doing away with Chevron deference for agency decision-making, is yet another recent sign that the crypto industry is starting to go on the offensive against regulatory agencies that it perceives as overstepping their bounds.
Over the coming few months, be on the lookout for ways the crypto industry will attempt to shape its own legal destiny through proactive rather than reactive litigation. This shift will also be interesting against the backdrop of the upcoming election and its aftermath. Answers may ultimately come from Congress rather than the courts, but that isn't going to stop both crypto companies and regulators from battling it out in litigation.
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