Coinbase Seeks Federal Jurisdiction in Oregon Securities Lawsuit
Coinbase (COIN) is seeking federal court jurisdiction over a lawsuit from Oregon's Attorney General, which claims the exchange sold unregistered securities. Key points include:
- Coinbase argues that the lawsuit interferes with federal regulatory efforts.
- The filing describes the lawsuit as a "regulatory land grab" aimed at creating conflicting state-level oversight.
- Coinbase emphasizes that similar claims were previously dismissed by federal regulators.
- SEC dropped its enforcement action against Coinbase in February.
- Coinbase's VP of Legal, Ryan VanGrack, states the case lacks legal basis and questions the Attorney General's authority to pursue it.
- VanGrack highlights that crypto regulation has become bipartisan, with many states dismissing similar litigation.
- Coinbase intends to remain in Oregon and will defend its position vigorously.