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Asks from the federal judge to take over the case launched by Oregon’s State Attorney Claiming that the lawsuit should not be pursued at the state level.
The exchange stated that Oregon’s claims were almost identical to the previous case of the US Securities Commission (sec)which was later discarded.
On the go Filed on June 2Coinbase told the Federal Court in Portland that the lawsuit of the General Prosecutor Dan Rayfield transcends the state power.
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June 3, Coinbase Legal Officer, Paul Grewal, Posted on X that The case deals with legal issues that only federal court should bear. He pointed out that the definition of a “investment contract” comes from the Federal Law, not the state rules.
Rayfield filed a lawsuit in April, accusing Coinbase of offering unregistered investments. He said the exchange of risk products was sold without appropriate checks and that the assets included could easily be abused for fraud or price manipulation.
However, Coinbase stated that Rayfield tried to take over the decisions that federal officials should make. Company Called the Copycat lawsuit of the SEC 2023 case.
Rayfield claimed to deviate from the DIP by deviating a cryptic implementation, state leaders must take measures. He said that the federal regulators retreated under the current white house, which created what he called “vacuum implementation.”
Coin They also shared that they had addressed Rayfield for a meeting after telling them that he was planning to file a lawsuit within 48 hours. According to the company, that request was rejected.
Meanwhile, on May 29, SEC and Binance filed a joint request to the Federal Court in Washington, DC. What did the application file? Read the whole story.
After a master’s degree in economics, politics and culture of the East Asia region, Aaron wrote scientific papers by analyzing the differences between Western and collective forms of capitalism in the Era after World War II.
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