Coinbase’s top legal executive suddenly exits — will the “clear regulation” bill be going cold? With a 46% probability, it’s making you feel uneasy

Crypto news site BiJieJie reports that Coinbase’s legal chief Paul Grewal has suddenly announced his resignation. He will move into an advisory role at the end of July, and his successor will be Molly Abraham. During his tenure, Grewal successfully led Coinbase through its public listing and won a legal battle with the SEC. His resignation has sent shockwaves through the crypto community, and some believe it could mean dim prospects for the Digital Asset Market Clarity Act. The bill is intended to delineate regulatory authority between the SEC and the Commodity Futures Trading Commission (CFTC). It has recently passed the Senate Banking Committee, but progress is currently slow. According to Polymarket data, the probability that the bill will pass this year has fallen to 46%.