Coinbase Refutes Accusations it Violated Campaign Financing Laws
Paul Grewal, the chief legal officer of Coinbase, has denied allegations that his cryptocurrency exchange violated campaign financing laws by donating $25 million to a super political action committee (PAC) in May of this year.
In a report on July 31, Molly White, a well-known crypto skeptic, suggested that Coinbase may have broken campaign finance laws by donating to the Fairshake crypto super PAC while actively negotiating a contract with the federal government.
However, Grewal refuted these claims in a post on Aug. 1, stating that Coinbase was not a federal contractor according to the “plain language” clause of the Code of Federal Regulations 111.51.
He also clarified that the US Marshals Service, which Coinbase was negotiating with, made it clear in their public request for proposal that they were not paying with appropriated funds.
