Oregon’s Bold Move: Echoing SEC, Sues Coinbase in Crypto Clash

Oregon Sues Coinbase Over Crypto Regulations

The Oregon Attorney General has filed a lawsuit against Coinbase, mirroring the SEC’s 2023 case.The suit claims Coinbase operated as an unregistered securities platform and offered staking services without proper registration.

This state-level action follows the U.S. Securities and Exchange Commission’s dismissal of its federal lawsuit against Coinbase in February 2025. The SEC’s case alleged Coinbase traded 13 unregistered crypto tokens and ran an unregistered staking program.

Paul Grewal, Coinbase’s Chief legal Officer, called oregon’s lawsuit a “copycat” of the SEC’s previous action. He argued that it rehashes arguments the federal agency has already abandoned. Grewal believes such state-level actions could disrupt bipartisan efforts in Congress to create federal crypto legislation.

The SEC’s dismissal of its case against Coinbase marked a shift in federal regulatory strategy. The Trump governance aims to develop a more clear framework for digital assets. Acting SEC Chair Mark Uyeda formed a Crypto Task Force to create clear regulatory guidelines.

Despite the federal shift, Oregon’s lawsuit highlights the complexities of U.S. crypto regulation. state and federal jurisdictions can differ. Coinbase vows to fight the lawsuit, stating its operations comply with existing laws and most digital assets shouldn’t be classified as securities.