Coinbase is back under the legal spotlights, but this time, it is not the dry that strikes the door. The Attorner General of Oregon has filed a complaint for the exchange of crypto, accusing him of offering and selling not registered titles to state users.
The trial claims that Coinbase offered and sold at least 31 tokens as unregistered titles, and this includes big names like XRP, ADA, Link, Aave, MKR and UNI.
Oregon called 31 tokens as “cryptographic titles”
In an ongoing trial, the state of Oregon continues Coinbase for having violated the securities laws of the States. The trial claims that Coinbase has helped sell unregistered cryptocurrencies, making millions of costs while the Oregonians lost money.
Oregon Attorney General Dan Rayfield said: “Coinbase won the confidence of Oregon people and then offered risky investments that have not been fully verified. For this reason, people have lost money, and we believe that Coinbase should be held responsible. ”
Oregon specifically names 31 cryptographic tokens which, according to them, were illegally offered as unregistered titles. These include popular tokens like Ada, Sol, XRP, Link, Aave, Matic, Uni and many others.
Although Oregon goes further than the American sec, which listed 18 tokens in its trial.
Coinbase responds
Paul Grewal, the legal director of Coinbase, retaliated on X. He criticized the Attorney General of Oregon for having filed the trial on behalf of more than 500,000 users, without their consent. He also said that this trial could affect the entire cryptography industry, not just Coinbase.
The impact of the Oregon case on XRP
Even if the Oregon trial only concerns state rules, this could affect the whole country.
A great thing in the case is XRP, the Ripple token. The Oregon Attorney General says XRP should be treated as security, which means that it should follow certain rules.
Ripple recently won the dry, but now Oregon raises the problem again. They still argue if XRP is security or not.
