Updated on:12/19/2025 04:46 PM 
Coinbase CEO Brian Armstrong has declared the cryptocurrency exchange will discontinue all professional relationships with legal entities that employ former government officials involved in what he terms as "questionable" regulatory measures against the digital asset sector.
Armstrong's recent statement, shared across social media platforms on December 3rd, comes shortly after reports revealed that Gurbir S. Grewal, former head of the SEC's Enforcement Division, has joined Milbank's Litigation & Arbitration Group. This development prompted the Coinbase executive to explicitly identify the firm as one with which the exchange will no longer collaborate.
In his public address, Armstrong emphasized:
The Coinbase leader criticized senior legal partners for their apparent "lack of understanding regarding the crypto community's perspectives" on regulatory matters. He specifically highlighted Grewal, accusing the former regulator of participating in enforcement actions that he characterized as "contrary to professional ethical standards."
The chief executive of Coinbase alleged that the previous SEC administration, led by Gary Gensler, had "improperly" targeted cryptocurrency businesses while simultaneously failing to offer transparent compliance frameworks.
Armstrong elaborated in his statement:
The executive clarified that while he doesn't endorse "permanent professional blacklisting," the blockchain industry should refrain from providing financial backing to individuals whom he claims "actively worked against the advancement" of the cryptocurrency ecosystem.
He further explained:
Milbank representatives had not provided an official response to inquiries at the time of reporting.
This strategic shift underscores the persistent friction between blockchain innovators and governmental overseers. Coinbase has consistently been a prominent participant in legal and policy dialogues, with Armstrong frequently advocating for more explicit regulatory parameters to encourage technological progress in the digital finance space.
During his tenure at the SEC, Grewal presided over heightened scrutiny of cryptocurrency platforms, including significant legal actions against Coinbase and other market participants. His transition to a private practice role exemplifies a wider pattern of regulatory officials moving to advisory positions within the very industries they previously managed.
