Oregon Attorney General Dan Rayfield has filed a lawsuit against Coinbase, accusing the exchange of selling unregistered securities. According to him, the company made millions on commissions, while thousands of state residents suffered losses. Authorities claim that Coinbase did not conduct proper due diligence on assets, offering users risky investments.

Paul Grewal, Coinbase's general counsel, called the lawsuit baseless, pointing out that prosecutors are acting without the consent of 500,000 users whose interests they are supposedly protecting. He also recalled that federal courts and the SEC have already dismissed similar allegations, including the XRP case, which was not recognized as a security during secondary sales. The states of South Carolina and Vermont have previously withdrawn similar lawsuits.

This lawsuit once again raises the issue of regulatory uncertainty in the United States. Coinbase insists that the allegations are based on outdated interpretations of the law, and their prosecution could harm the entire industry. While the exchange is preparing for a legal fight, the crypto market is waiting for new clarifications on the legal status of digital assets.