Coinbase urges U.S. Department of Justice to take steps to block state-level cryptocurrency enforcement actions

According to ChainCatcher, Coinbase is pushing the U.S. Department of Justice to intervene in state regulatory enforcement of cryptocurrencies, according to Cointelegraph. Its chief legal officer Paul Grewal said in a 14-page letter from the Justice Department that federal officials should take action on state regulatory enforcement of cryptocurrency companies, and that the Justice Department needs to urge Congress to "intervene and develop broad priority clauses." On Tuesday, Grewal posted on X platform, bluntly stating that Oregon sued Coinbase for legal services under federal law, indicating that there is a problem. This is not a federal system but a government act. States should fill the gap left by federal regulators' abandonment of supervision under the leadership of the new government. Grewal also proposed that the Justice Department should submit a letter of opinion to let the priority clause in Congress legislation clarify that federally regulated digital assets are not subject to the state blue sky law, and regulatory requirements such as NSW licensing do not apply to cryptocurrency intermediaries, and the clauses have retroactive effect.