TechFlow, June 4 — According to Cointelegraph, Coinbase has filed a petition with a U.S. federal court to transfer the securities lawsuit initiated by Oregon Attorney General Dan Rayfield. The exchange described the case as a "copy" of the SEC's 2023 litigation and argued it should be handled in federal court. Oregon accuses Coinbase of selling unregistered securities to residents, but Coinbase contends that such actions exceed state authority and infringe on federal legal jurisdiction. Notably, several states including Kentucky, Vermont, and South Carolina have recently withdrawn similar lawsuits against Coinbase.
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