Oregon Revives Legal Battle: Coinbase Faces Securities Lawsuit Over Unregistered Crypto Sales

Oregon’s Attorney General has reignited legal action against Coinbase, alleging the exchange violated state securities laws by facilitating the sale of unregistered cryptocurrencies. The lawsuit claims Coinbase profited from fees while Oregon investors suffered losses in what the state describes as a rigged market. This development follows the SEC’s earlier dismissal of a similar case, highlighting ongoing regulatory tensions in the crypto space.

Oregon Files Securities Lawsuit Against Coinbase

Oregon has filed a lawsuit against Coinbase, accusing the crypto exchange of violating state securities law by promoting the sale of cryptocurrencies as unregistered securities. The state’s attorney general claimed that Coinbase earned millions of dollars in fees as Oregonians faced significant losses in a market stacked against them. The lawsuit comes after the SEC dismissed a similar case against Coinbase.

Oregon Attorney General Revives Lawsuit Against Coinbase

Oregon Attorney General Dan Rayfield has announced that the state will proceed with a lawsuit against Coinbase, accusing the popular cryptocurrency exchange of operating an unregistered securities exchange and broker-dealer. These claims mirror previous allegations made by the U.S. Securities and Exchange Commission (SEC), which were dismissed. Coinbase has refuted the lawsuit, calling it a “copycat” case. The legal battle risks obstructing federal efforts to establish clear regulatory guidelines for crypto businesses.