Oregon Vs Coinbase: AG Files Motion To Keep ‘Gensler-Era Copycat Lawsuit’ In State Court
Main Idea
Oregon's Attorney General filed a motion to keep the lawsuit against Coinbase in state court, arguing that the case should follow Oregon's broader definition of investment contracts under state law rather than federal standards.
Key Points
1. Oregon's AG Dan Rayfield filed a motion to remand the Coinbase case to Multnomah County, opposing Coinbase's attempt to move it to federal court.
2. Coinbase argues the case involves federal securities law, but Oregon cites the state's broader 'Pratt Test' for defining investment contracts.
3. The lawsuit alleges Coinbase violated Oregon Securities Law by selling high-risk investments, including 31 cryptocurrencies, without proper registration.
4. Coinbase's CLO Paul Grewal criticized the lawsuit as a 'Gensler-era copycat' case, claiming it ignores the need for a unified federal regulatory framework.
5. The case covers more tokens than the SEC's 2023 lawsuit against Coinbase, which was dismissed in 2025.
Description
Oregon’s Attorney General (AG) has filed a motion to keep the lawsuit against Coinbase in state court, following the crypto exchange’s efforts to move the litigation to federal court. Oregon Says Coinbase Case Must Stay In State Courts On July 2, Oregon’s Attorney General, Dan Rayfield, filed a motion to remand its lawsuit against Coinbase back to the Circuit Court of the State of Oregon for Multnomah County. The motion follows the crypto exchange’s attempt to move the case to federal court. In ...
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