Oregon has filed a lawsuit against Coinbase, alleging it runs an unlicensed securities exchange and broker-dealer. The state also claims that Coinbase’s staking program is an illegal securities operation.
Coinbase’s Chief Legal Officer, Paul Grewal, characterizes the lawsuit as a political stunt, pointing out that the SEC had previously dismissed a similar case.
Grewal warns that this lawsuit undermines bipartisan efforts toward comprehensive federal crypto legislation, emphasizing the importance of focused policymaking in Washington.
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