The US state is targeting Coinbase, while the nationwide crypto raid wins down

While Washington loosens its crypto regulation, Oregon follows.

The Attorney General Dan Rayfield has filed a lawsuit against Coinbase and accuses the stock exchange of applying not registered crypto-assets and exposing local investors to risk-rich financial products without adequate protective measures.

This Step Coming only a few months after the US stock exchange supervisory authority SEC had dropped her much-noticed lawsuit against Coinbase, in which it had accused the company as a non-registered broker and offering inadmissible staking services. The withdrawal of the SEC was part of a more comprehensive realignment among the new government, which also reduced the investigation against other large platforms such as octopus, uniswap and consensics.

However, Rayfield believes that the states now have to fill the gap that the federal supervisory authorities left behind. He claims that Coinbase has facilitated “risky” token sales to residents of Oregon and exposed consumers. “We believe that Coinbase should be held responsible,” he said, referring to the financial losses of the residents.

The legal team from Coinbase reacted immediately and described Oregon's measure as a political move. Chief Legal Officer Paul Grewal argued that the lawsuit undermined national progress in the direction of comprehensive crypto legislation and warned that the enforcement by individual states could make the cross-party efforts in the congress fail.

While the legislators in Washington DC drives into digital assets – some of which could end up on President Trump's desk until summer – says Coinbase that lawsuits at states' level only cause confusion. “Instead of waiting for a uniform regulatory framework, Oregon has decided to take a single -hand you,” said Grewal.