TechFlow news, on July 11, Coinbase, the largest cryptocurrency exchange platform in the United States, filed a lawsuit with the Oregon state court demanding that the state government disclose documents related to its sudden change in cryptocurrency regulatory stance. Ryan VanGrack, Vice President of Coinbase, stated that the Oregon state government abruptly classified digital assets as regulated securities without legislative procedures or public participation, and sued Coinbase in April this year, accusing it of operating illegally without registration.
Notably, Oregon's lawsuit came just two months after the federal government dropped the SEC's case against Coinbase, and no other states have since initiated similar lawsuits. Coinbase argues that the out-of-state law firm hired by the state government could receive 20%-30% of any potential damages, harming the interests of local residents.
