- Oregon has taken up a dismissed lawsuit by the SEC and rejects the legal dispute against Coinbase.
- With the warning, Coinbase reacted that the re -complaint is the cross -party efforts to regulate cryptocurrencies at the federal level.
The General Prosecutor of Oregon, Dan Rayfield, is driving a lawsuit against the Coinbase crypto tours and thus takes up legal arguments that the US stock exchange regulator SEC had rejected two months ago. The case accuses Coinbase of selling non-registered securities and entertaining an united stock exchange and broker operation.
This campaign has re-laid the tensions between the state supervisory authorities and the crypto industry after several federal and national lawsuits have been dropped recently. Coinbase describes the step as a political maneuver, which undermine the non -partisan efforts to undermine a national cryptopolitis.
Rejected federal action renewed
Democrat Rayfield confirmed that his office was charged in which coin base is accused of violating Oregon by his stock market operation. According to Paul Grewal, Chief Legal Officer from Coinbase, the lawsuit corresponds to that of the SEC from 2023 – which was rejected in Washington in February 25 after the regulatory changes. Grewal explained that Rayfield’s Coinbase office expressly announced that “one continued to take part where the SEC ceased under Gary Gensler.”
Grewal criticized The step and claimed that he ignored the federal dynamics in the direction of comprehensive legislation and instead revives outdated legal intervals:
“This is exactly the opposite of what the Americans should concentrate on now.”
He warned that such complaints do not protect consumers, but instead disrupt national political efforts. He also called the lawsuit a “waste of tax money in Oregon” and described it as a “political bunch”.
Withdrawal of the federal government and escalation at state level
The SEC’s decision to drop her complaint against Coinbase came after the chairman Gary Gensler’s resignation in January. His resignation marked a broader swivel in the authority’s crypto strategy, including the formation of a new crypto-task force that focuses on the creation of updated national rules. After this change, several US states-including Vermont, South Carolina and Kentucky-also stopped their procedures against Coinbase between 13 and 26 March 26.
Despite this regulatory de -escalation, Oregon continues. In the lawsuit it is claimed that the Coinbase staking program represents an illegal offer of securities and that the company worked without the licensing required according to the law of Oregon. Coinbase claims that these allegations have already been refuted at the federal level and describes the lawsuit as superfluous.
Grewal argued that the lawsuit was not only outdated, but also harmful:
“These traditional arguments have been outdated for years and contradict public opinion, technological progress and good government.”
He emphasized that both the democratic and the Republican MPs in the congress are now working together clear crypto regulations and that the enforcement measures at the state level threaten this progress.
As CNF reported, Coinbase said that the new lawsuit from Oregon would be combated as energetically as the old of the Sec. Grewal:
“The war against crypto, which was led by the former Sec and its allies, is over – and crypto has won.”
He concluded that the new legal challenge from Oregon is a direct threat to the uniform federal approach, which is now taking shape in Washington.
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