Coinbase Faces Fresh Legal Challenge from Oregon Over Alleged Securities Violations

Oregon’s Attorney General has filed a lawsuit against Coinbase, accusing the cryptocurrency exchange of selling unregistered securities and operating as an illegal broker-dealer. The case closely resembles a previously dismissed SEC lawsuit from 2023, prompting Coinbase’s legal team to dismiss it as a ’copycat’ effort.

Coinbase Targeted Again by Oregon’s Lawsuit

Coinbase is facing legal trouble again, this time from Oregon’s Attorney General, Dan Rayfield. He claims Coinbase is selling unregistered securities, running an illegal broker-dealer operation, and breaking securities laws with its staking program. This case mirrors a dismissed SEC lawsuit from 2023. Coinbase’s Chief Legal Officer, Paul Grewal, called Oregon’s case a “copycat” of the dropped SEC lawsuit, accusing them of “resurrecting the dead.”

Circle and eToro Enter Quiet Periods, Bitcoin Miners Dump BTC, and Semler Turns to Coinbase

Circle and eToro have entered quiet periods, potentially signaling an IPO. Meanwhile, Bitcoin miners are selling off BTC at a faster and larger rate. Semler Scientific is offering securities to raise cash to buy Bitcoin, which will be used to secure a loan to pay a DOJ fine. The USDC stablecoin issuer Circle is in a mandatory quiet period due to having filed their S-1 earlier this month.