In the grand theatre of financial follies, Oregon’s Attorney General has decided to dust off the long-abandoned skeleton of the SEC’s crypto crusade and wave it about like a particularly feeble magic wand. Coinbase, our crypto exchange protagonist, cautiously peeked beneath the judicial bed and found the ghost of “regulation by enforcement” swirling in the shadows once more.
Coinbase’s New Sequel: “Attack of the Copycat Lawsuit”
This past Friday, Paul Grewal, Coinbase’s Chief Legal Officer and part-time headache survivor, announced that Oregon plans to file what can only be described as a legal “déjà vu” on April 18. Apparently, the Attorney General is recycling the same tired, moth-eaten theories that even the SEC waved goodbye to with polite prejudice—like an ex who just refuses to get the memo.
Grewal snorted with the grace of a walrus in a teacup, calling the Oregon AG’s strategy “years out of date” and about as relevant as a floppy disk in a blockchain conference. He pointed out it blatantly ignores public opinion, the march of technology, and, well, basic common sense that came with the invention of the lightbulb.
For the uninitiated, the SEC once accused Coinbase of turning its platform into an unregistered securities bazaar, claiming it moonlighted as an illegal broker-dealer through its staking program. That melodrama ended abruptly in February 2025 when the SEC’s top brass switched, and suddenly crypto litigation was about as fashionable as disco.
Since then, under the new, slightly less witch-hunty leadership of Mark Uyeda, the regulatory agency has dropped lawsuits involving crypto heavyweights like Gemini, Binance, Uniswap Labs, and Robinhood—basically telling everyone crypto was less “wild west” and more “mildly confusing science experiment.”
The drama doesn’t end there. In June 2023, a coalition of ten states, including Alabama and California (always keen on drama), sued Coinbase for their daring adventure into staking rewards. After the SEC’s case went the way of the dodo, three states gracefully bowed out, possibly to binge-watch something less stressful.
Crypto Law: The Saga Continues
On a platform ominously called X Threat, Grewal reported Oregon is “literally picking up where Gary Gensler’s SEC left off,” which he described as “an embarrassing taxpayer-funded rerun.” Fear not, dear Coinbase customers, for the exchange vows to battle the lawsuit like a caffeinated terrier—ferocious and unrelenting—claiming again the case is as meritless as a screen door on a submarine.
Grewal proclaimed the industry had already survived the SEC’s previous disapproval campaign—“the war against crypto”—and that regulators have gradually realized most digital assets are about as much securities as fizzy drinks. He noted, with a hint of exasperation, that Oregon’s latest move feels like stepping back into a time machine equipped only with rust and bad decisions.
“Bipartisan momentum has never been stronger for clear, federal crypto laws that might somehow stop states from turning regulation into a game of whack-a-mole. Yet here comes Oregon, trying to govern a global, complex blockchain spaghetti bowl with the subtle touch of a wrecking ball.”
Faryar Shirzad, Coinbase’s Chief Policy Officer and dreamer of a more sensible regulatory future, has long begged Congress to carve out clear rules to keep “rogue attacks” at bay and unlock crypto’s fabled magic potential.
Read More
- Top 8 UFC 5 Perks Every Fighter Should Use
- Unlock the Magic: New Arcane Blind Box Collection from POP MART and Riot Games!
- Unlock the Best Ending in Lost Records: Bloom & Rage by Calming Autumn’s Breakdown!
- Unaware Atelier Master: New Trailer Reveals April 2025 Fantasy Adventure!
- Unlock Roslit Bay’s Bestiary: Fisch Fishing Guide
- How to Reach 80,000M in Dead Rails
- Unleash Hell: Top10 Most Demanding Bosses in The First Berserker: Khazan
- REPO: How To Fix Client Timeout
- Reverse: 1999 – Don’t Miss These Rare Character Banners and Future Upcoming Updates!
- How to Unlock the Mines in Cookie Run: Kingdom
2025-04-19 18:45