Coinbase Requests Transfer of Oregon Lawsuit to Federal Court…"Improper Lawsuit"

U.S. cryptocurrency exchange Coinbase has requested that a lawsuit filed by the state of Oregon be transferred to federal court. Previously, in April, Oregon sued Coinbase for the alleged sale of unregistered securities.

According to CoinDesk on the 3rd (local time), Coinbase stated, "The lawsuit filed by Oregon is an overreach by the state government. This act directly conflicts with the stance of the federal government, which is pursuing bipartisan digital asset policies," and requested that the Oregon lawsuit be transferred to federal court.

In particular, Coinbase emphasized that this lawsuit is an improper one driven by political issues. Coinbase commented, "This is a re-filing of a case that has already been resolved with the U.S. Securities and Exchange Commission (SEC). The motive behind this suit is clear. It's not a legal matter, but a political attempt to make headlines." Additionally, "Securities transactions within Oregon are typically overseen by the Department of Financial Regulation, so it's problematic that the Attorney General is bringing this lawsuit," and added, "A single Attorney General is attempting to take away users' rights to choose digital asset investments."

In conclusion, they stated that they will never give up. Ryan VanGrack, Deputy General Counsel at Ripple, said, "We will fight. The actions taken by Oregon are clearly wrong," and stressed, "Unless it is legally forced, we will never leave Oregon."