{"id":22846,"date":"2025-04-19T15:46:39","date_gmt":"2025-04-19T15:46:39","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=22846"},"modified":"2025-04-19T15:46:39","modified_gmt":"2025-04-19T15:46:39","slug":"oregon-to-resurrect-secs-crypto-regulation-by-enforcement-with-copycat-lawsuit-against-coinbase","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=22846","title":{"rendered":"Oregon To \u2018Resurrect\u2019 SEC\u2019s Crypto Regulation By Enforcement With \u2018Copycat\u2019 Lawsuit Against Coinbase"},"content":{"rendered":"
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Crypto exchange Coinbase revealed that Oregon\u2019s Attorney General plans to file a lawsuit similar to the Securities and Exchange Commission (SEC)\u2019s dismissed case. According to the exchange, Oregon is reportedly trying to revive the US regulator\u2019s long-criticized \u201cregulation by enforcement\u201d approach.<\/p>\n

Coinbase To Face New Lawsuit In Oregon<\/h2>\n

On Friday, Coinbase\u2019s Chief Legal Officer, Paul Grewal, shared<\/a> that Oregon\u2019s Attorney General will file a securities enforcement action against the crypto exchange on April 18.<\/p>\n

According to the blog post, the Attorney General\u2019s \u201ccopycat case\u201d is \u201casserting the same stale, repeatedly refuted theories that the SEC rightly disavowed (with prejudice) when it dismissed its case against Coinbase.\u201d<\/p>\n

Grewal slammed the Oregon Attorney General\u2019s decision, stating, \u201cThese hand-me-down arguments are years out of date and defy public opinion, technological progress, and good governance.\u201d<\/p>\n

For context, the SEC sued the crypto exchange in 2023, alleging that the platform was an unregistered securities exchange. The Commission argued that Coinbase operated as an unregistered broker-dealer and illegally sold unregistered securities through its staking program.<\/p>\n

Nonetheless, the regulatory agency dismissed<\/a> the lawsuit in February 2025, following the departure of the SEC\u2019s former chairman, Gary Gensler, and the new regulatory approach. Under the pro-industry Trump administration, the Commission, led by acting chair Mark Uyeda, has dismissed multiple crypto litigations and investigations, including Gemini, Binance, Uniswap Labs, and Robinhood.<\/p>\n

Similarly, Coinbase was sued in June 2023 by 10 US state regulators, including Alabama, California, Illinois, Kentucky, Maryland, New Jersey, South Carolina, Vermont, Washington, and Wisconsin.<\/p>\n

The multi-state task force accused the crypto exchange of violating securities law by offering its staking rewards program. After the SEC\u2019s case dismissal, three states have also dropped<\/a> their lawsuits.<\/p>\n

Crypto Legislation A Top Priority<\/h2>\n

In an X threat, the CLO stated that the Attorney General\u2019s office \u201cmade it clear\u201d that they are \u201cliterally picking up where the Gary Gensler SEC left off,\u201d which he considers an \u201cembarrassing waste of Oregon taxpayer dollars.\u201d He also assured customers that Coinbase is prepared to fight as \u201cOregon\u2019s lawsuit, like the SEC\u2019s, is meritless.\u201d<\/p>\n

\"coinbase\"<\/p>\n

Grewal asserted that the industry won<\/a> the \u201cwar against crypto waged by the previous SEC and its allies,\u201d as the regulatory agency \u201cfinally caught up with the reality that the vast majority of digital assets are not securities \u2014and that there is widespread public support for this revolutionary technology.\u201d<\/p>\n

He added in the blog post that Oregon\u2019s campaign does nothing to move the conversation forward. Instead, it takes two steps back from the recent progress and the \u201cconstructive policymaking happening in DC.\u201d<\/p>\n

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Bipartisan momentum has never been stronger to pass comprehensive federal legislation for digital assets\u2014legislation that would enable domestic crypto businesses to thrive while preventing rogue state governments from bringing politically motivated actions against crypto firms. Yet instead of waiting for Democrats and Republicans in Congress to enact clear rules of the road, Oregon has taken it upon itself to try to regulate a worldwide industry through enforcement.<\/p>\n<\/blockquote>\n

Coinbase\u2019s Chief Policy Officer (CPO), Faryar Shirzad,\u00a0has previously called<\/a> for clear crypto legislation to prevent \u201crogue attacks\u201d on the industry, urging the US Congress to act now and unlock the industry\u2019s potential in the US.<\/p>\n

\"coinbase\"<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Crypto exchange Coinbase revealed that Oregon\u2019s Attorney General plans to file a lawsuit similar to the Securities and Exchange Commission (SEC)\u2019s dismissed case. According to the exchange, Oregon is reportedly trying to revive the US regulator\u2019s long-criticized \u201cregulation by enforcement\u201d approach. Coinbase To Face New Lawsuit In Oregon On Friday, Coinbase\u2019s Chief Legal Officer, Paul […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-22846","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/22846","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22846"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/22846\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22846"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22846"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22846"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}