SEC’s Crypto Roundtable Reignites Industry Hopes as Coinbase, Cumberland, and Uniswap Sit at the Same Table

Three firms that once faced off against regulators are now central players in a crucial discussion aimed at shaping how crypto is regulated in the United States.

The Securities and Exchange Commission is bringing Coinbase, Uniswap, and Cumberland DRW together for its second major crypto roundtable this Friday, marking a dramatic shift in tone from lawsuits to dialogue. With lawsuits dropped and livestreams planned, the message is clear: the U.S. government might finally be ready to talk, not just litigate.

From Conflict to Conversation: A Shift in SEC’s Approach

Not too long ago, the SEC was busy dragging Coinbase and Cumberland through courtroom battles. That seems to be in the rearview mirror now. The Trump administration’s more lenient stance toward digital assets appears to have pushed the SEC to rethink its tone.

Instead of enforcing first and explaining later, the SEC is trying something different—actual conversations with the industry. This Friday’s roundtable titled “Between a Block and a Hard Place: Tailoring Regulation for Crypto Trading” looks more like a peace summit than a regulatory takedown.

The discussion will unfold at the SEC’s Washington D.C. headquarters. It’s not behind closed doors either. The event will be livestreamed, with SEC Commissioner Hester Peirce—often dubbed “Crypto Mom”—opening the session. That in itself signals a more open-door policy, literally and figuratively.

Who’s Speaking, and Why It Matters

The panel isn’t just stacked—it’s strategic. It reflects a new effort to include diverse perspectives across the crypto spectrum.

Here’s who’s got a seat at the table:

• Gregory Tusar, VP of Institutional Product at Coinbase. He’s expected to weigh in on how regulations affect institutional players in crypto.

• Katherine Minarik, Chief Legal Officer at Uniswap Labs. Given Uniswap’s decentralized nature, her insights could help define how (or if) DeFi should be regulated.

• Chelsea Pizzola, Associate General Counsel at Cumberland DRW. With Cumberland acting as a trading desk, Pizzola’s comments will likely touch on market structure and transparency.

Each of these companies sits in a unique spot on the crypto map—exchange, DeFi protocol, and trading firm. That’s not an accident. It’s a curated mix for what’s shaping up to be a policy-defining conversation.

What’s Actually on the Agenda?

The SEC says this session is part of a broader initiative by its crypto task force. It’s all about clarity—something the industry’s been begging for.

But this isn’t a free-for-all. The focus will be squarely on:

• Crypto trading regulations and where current securities laws fit (or don’t).

• Understanding decentralized vs. centralized models.

• Addressing investor protection without choking innovation.

Interestingly, the SEC is planning more roundtables soon. Topics in the pipeline include tokenization, DeFi regulation, and crypto custody. That last one has Wall Street particularly interested, as custodianship is the golden ticket for institutional adoption.

What’s at Stake for the Industry?

There’s a lot riding on how these roundtables play out.

The crypto industry’s relationship with U.S. regulators has been icy at best. Legal ambiguity has left exchanges guessing and startups stuck in limbo. If the SEC begins to show a consistent tone—less crackdown, more collaboration—it could thaw things fast.

Even rumors of friendlier regulations tend to push markets. After the SEC announced the roundtable agenda, Bitcoin saw a minor bump, trading up 2.1% within 24 hours. That’s not massive, but it’s telling.

For major players like Coinbase, a clearer framework means fewer lawsuits and more product launches. For DeFi projects like Uniswap, it could mean finally operating without legal fog hanging overhead. And for firms like Cumberland, it’s a shot at legitimacy in a space often brushed off as a regulatory gray zone.

Here’s How These Firms Got Here

Coinbase’s history with the SEC is well-documented. It was sued last year over its staking product, only to see the case quietly dropped under the Trump-appointed SEC leadership earlier this year.

Cumberland DRW had its own brush with enforcement—regulators had questioned its liquidity operations—but it too saw its case closed without much fanfare. Uniswap, meanwhile, avoided any formal charges, but faced scrutiny over how decentralized its governance really was.

Their presence at Friday’s roundtable marks a full-circle moment. Former adversaries now doubling as advisors? That’s a plot twist nobody would’ve bet on last summer.

Crypto Industry Still Wants More Than Words

This roundtable is a step. A meaningful one. But it’s not a full-on reversal or a regulatory revolution—not yet.

There’s still no timeline on formal crypto legislation from Congress. Stablecoin bills remain stalled. SEC Chair Gary Gensler hasn’t backed away from labeling most tokens as securities. Even so, roundtables like this build momentum, or at least buy time for the industry to stay afloat without constant legal headwinds.

Table: Key Events Leading to April 11 SEC Crypto Roundtable

Still, the tone has undeniably changed. And tone matters. Especially in an industry where vibes often move markets.