Oregon’s Attorney General is about to sue Coinbase, mirroring a recently dismissed SEC lawsuit. This move has Coinbase fuming.
Oregon’s Lawsuit: A Repeat of History?
Coinbase’s Chief Legal Officer (CLO), Paul Grewal, announced that Oregon will file a lawsuit against the exchange on April 18th. Grewal calls it a “copycat case,” arguing that Oregon is using the same outdated arguments the SEC dropped. He believes this is a waste of taxpayer money and ignores recent progress in the crypto space.
The SEC’s original lawsuit, filed in 2023, accused Coinbase of operating as an unregistered securities exchange and illegally selling unregistered securities through its staking program. However, with a change in leadership at the SEC, the case was dismissed in February 2025. This dismissal followed a broader shift away from aggressive crypto enforcement under the new administration. Several other crypto companies, including Gemini, Binance, and Robinhood, also saw their cases dropped.
A Missed Opportunity for Progress
Grewal argues that the industry has won the battle against overly aggressive crypto regulation. He believes the majority of digital assets aren’t securities and that there’s strong public support for crypto. He sees Oregon’s lawsuit as a setback, hindering the positive momentum towards sensible federal crypto legislation.
Coinbase isn’t alone in its frustration. The company’s Chief Policy Officer (CPO) has previously called for clear federal legislation to prevent these kinds of “rogue attacks” on the industry. The hope is that Congress will create a clear regulatory framework, preventing individual states from taking unilateral action.
The Need for Federal Legislation
The current situation highlights the urgent need for comprehensive federal crypto legislation. Bipartisan support for such legislation is growing, offering the potential for a balanced approach that supports the industry while protecting consumers. Instead of waiting for federal action, Oregon is attempting to regulate a global industry through litigation—a move Coinbase strongly opposes.
