full image - Repost: Oregon AG Sues Coinbase for Securities Violations Months After SEC Dropped Similar Case 🏛️ (from Reddit.com, Oregon AG Sues Coinbase for Securities Violations Months After SEC Dropped Similar Case 🏛️)
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Oregon Attorney General Dan Rayfield has filed a securities enforcement action against Coinbase, essentially reviving claims that the SEC abandoned earlier this year under the Trump administration.The lawsuit alleges Coinbase:* "Encouraged and helped the sale of unregistered cryptocurrencies to people in Oregon"* Exposed consumers to assets vulnerable to pump-and-dump schemes and fraud* Sold high-risk investments without proper vetting for consumer protection"Oregonians lost money, and we believe Coinbase should be held accountable and take steps to protect consumers," Rayfield stated.Coinbase CLO Paul Grewal responded forcefully: "Oregon's holdout campaign is obstruction for the sake of obstruction. It is a desperate scheme that does nothing to move the crypto conversation forward, and in fact takes us a giant leap backwards from hard-won progress."Political context:The case highlights the growing regulatory divide between federal and state approaches. While the SEC under Trump has dropped investigations into numerous crypto firms (including Coinbase, OpenSea, Kraken, Consensys, and Uniswap), some state regulators appear to be filling what Rayfield called "the enforcement vacuum being left by federal regulators."This comes as bipartisan crypto legislation advances in Congress, with Trump pushing for bills to reach his desk by August.
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