Oregon Attorney General Dan Rayfield is planning a lawsuit against the Crypto Exchange Coinbase, allegedly the company selling unregistered security to US state residents, after the United States overthrew the Securities and Exchange Commission’s (SEC).
According to Coinbase’s legal official, Paul Grewal, the lawsuit is an exact “copycat case” of 2023 by the SEC queries against the exchangewhere the The Federal Agency agreed to collapse In February. Grewal added:
“If you ever think I was jumping into conclusions, the office of the lawyer general’s office made it clear to us that they literally choose where the Gary Gensler Sec stopped – seriously. It’s exactly the opposite of what should be focused on Americans today.”
The lawsuit signals that the crypto industry is still facing regulatory barriers and pushed to the state level, even after securing some legal successes at the federal level. Pushing from state regulators can submit crypto regulations in the US and cohesive national policy is complicated.
Related: Coinbase’s distances are base from the highly criticized Memecoin that has thrown $ 15m
Many US states have dropped suits against Coinbase following the moves in the SEC
The SEC flipped its bearing with cryptocurrencies following the Resigning former Chairman Gary Gensler In January.
Gensler’s exit has sparked a wave of fallen suits, implementation and investigations against crypto companies, including Coinbase, Uniswap, and Kraken.
Many US states followed the SEC leadership and also lowered their laws against the Coinbase in the first quarter of this year.
Vermont, one of 10 US says filed a trial against the exchange, Lowered its lawsuit On March 13.
The legal order Specifically mentioned the regulation of the SEC regulation and the establishment of an agency’s crypto work force as factors to the fall of the lawsuit.
South Carolina Deleted the lawsuit against Coinbase Two weeks after Vermont returned the trial against the giant exchange.
Kentucky’s financial institution department became a third -level state regulator in Eliminate its coinbase lawsuitEnd of the trial on March 26th.
Despite legal success, Coinbase grew Called In the federal government to terminate the state of the state of the crypto regulation and focus on the passage of clear market structure policies at the federal level.
Magazine: SEC U-Turn to Crypto leaves key questions that are not answered
