Oregon Revives SEC’s Dropped Case Against Coinbase in New Legal Action

Oregon brings back Coinbases case which was dropped by the SEC in a action.

A new lawsuit has been initiated by Oregon against Coinbase following an action taken by the SEC.

Oregon takes action, against Coinbase following a case dismissed by the SEC.

Oregons Attorney General is launching a challenge, against Coinbase through a lawsuit at the state level that echoes accusations previously dropped by the SEC a mere two months ago. The lawsuit claims that Coinbase conducted activities, as a securities exchange and offered staking services without obtaining the required licenses.

In June 2023 the SEC made allegations, against Coinbase for allowing trading of 13 unregistered crypto securities and failing to register its staking program correctly. The case was dismissed with prejudice indicating a resolution. Nevertheless Oregon has chosen to revisit the issue. This time, at a state level.

The recent development underscores the increasing divide, between federal and state enforcement approaches regarding cryptocurrencies. Although the federal government seems inclined towards creating regulations for crypto markets the recent action in Oregon demonstrates that state regulators remain actively involved and influential, in holding digital asset companies accountable.

Coinbase is standing firm on its position stating that its platform and services abide by existing guidelines and asserting that the majority of tokens featured on its platform are not classified as securities.

For both cryptocurrency investors and experienced traders alike this situation brings up an issue; regulation isn’t only enforced at the national level. It’s important to keep an eye on how state regulators may handle cryptocurrency ventures in their ways. Even when the SEC takes a step back.