While the new SEC administration is closing the lawsuits filed against cryptocurrency platforms one by one after the departure of Gary Gensler, news of a new case came from the USA.
Accordingly, the Oregon State Attorney General’s Office filed a lawsuit against Coinbase, the largest cryptocurrency exchange in the United States.
While this lawsuit reiterates allegations of unregistered securities sales that the SEC previously made, Coinbase described the lawsuit as baseless and outdated.
Coinbase argued that the lawsuit filed by the Oregon Attorney General’s Office was an attempt to revive a regulatory regime through enforcement that had been abandoned by the SEC.
Coinbase said the lawsuit undermines ongoing bipartisan efforts in Washington to create federal cryptocurrency regulations.
Coinbase said it will continue normal operations in Oregon despite the lawsuit and will fight the case to the end.
Coinbase chief legal officer Paul Grewal said:
“Today, the Oregon Attorney General is resurrecting the abandoned practice by bringing a copy of the SEC’s enforcement action against Coinbase. As a reminder, the SEC dismissed this case with prejudice. This type of political bickering is a shameful waste of Oregon taxpayer dollars.
If you think I’m being hasty, the Attorney General’s office has made it clear to us that they will pick up where Gary Gensler and the SEC left off.
We are confident that we are right about the facts and the law, and we are prepared to fight this misguided lawsuit. In the meantime, it is business as usual in Oregon.”
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/new-lawsuit-shocks-coinbase-we-will-continue-where-the-sec-left-off-coinbases-statement-was-not-delayed/