Coinbase Legal Chief Defends Base, Warns Against L2 “Exchange” Confusion

TLDR: Coinbase CLO Paul Grewal says L2 sequencers only process transactions and don’t match buyers and sellers like an exchange. The Coinbase lawyer compared L2s to AWS, saying infrastructure can run apps but isn’t the marketplace itself. He warned that labeling L2 sequencers as exchanges spreads FUD and misrepresents their purpose in scaling Ethereum. Grewal [...]

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