Golden Finance reported that Paul Grewal, chief legal officer of Coinbase, expressed concern that the U.S. SEC did not clarify FTX's plan to repay creditors with stablecoins or other cryptocurrencies. Grewal's comments were in response to a document filed on Friday, in which the SEC reserved its rights in the U.S. Bankruptcy Court for the District of Delaware to approve FTX Trading Ltd.'s joint bankruptcy protection plan. "The U.S. SEC did not point out that this behavior was illegal," Grewal said on the social media platform X on Sunday. He referred to the wording used by the securities regulator in a court document, in which the SEC wrote: "The SEC did not express an opinion on this behavior: Under federal securities laws, the U.S. Securities and Exchange Commission does not express an opinion on the legality of the transactions outlined in the plan and reserves the right to question transactions involving crypto assets."
