Oregon Dan Riveld’s public prosecutor began to take legal action against Coinbase, one of the leading cryptocurrency trading platforms in the United States.
The lawsuit, which was filed in the Multnomah Provincial Court, claims that Coinbase has violated the Securities Law in Oregon by facilitating the sale of cryptocurrencies that are not registered to the state’s residents, which led to remarkable financial losses for investors.
Punishment allegations
He has statementRayfield emphasized the confidence that Oregon consumers have put in Coinbase, which it claims was violated when the platform sold high -risk investments without sufficient examination. “Orgonone has lost money, and we believe that Coinbase should be held accountable and steps to protect consumers,” he stressed.
The complaint claims that Coinbase works books that support the sale of unregistered securities, which are often associated with higher risks.
The platform is accused of approving cryptocurrencies, linking buyers and sellers, managing deals, and strengthening various digital assets to Oregon without appropriate regulatory supervision.
“You do not enter into a medical procedure without knowing the risks. It is the same for ordinary people who want to invest in the encrypted currency,” Riveld said.
The lawsuit indicates that this is alleged Unregistered securities It is “vulnerable to plans” such as pump, discharge and fraud, which can lead to destructive losses for investors.
A prominent example that the lawyer cited is the online computer protocol (ICP), which was previously identified the Securities and Stock Exchange Committee (SEC) as unregistered safety.
After its launch on Coinbase, the price of the international comparisons program decreased significantly from $ 700 to $ 72 within one month, and is now trading about 7 dollars – an amazing decrease of about 99 %.
This legal step comes in the aftermath of the Supreme Education Council resolution To drop her case against Coinbase and reset the lawyer who leads that case. Rivild highlighted the need to enforce the state level in the absence of strong federal work.
Coinbase response
In response to the lawsuit, the chief legal employee of Coinbase, Paul Ghroul, Express Strong opposition to the social media platform X (formerly Twitter). He described the lawsuit as a “copying issue” of previous SEC enforcement measures against Coinbase, which was rejected.
Grewal also criticized the legal procedure as a “political motivation effort” aimed at taxpayers and decreases the urgent need for party legislation dealing with digital assets.
The Executive Authority also pointed to the negligent negligence in Oregon’s complaint, claiming that it ignored the key Judicial rulings It appeared affected by the private law firms that seek to benefit from the lawsuit.
Grewal confirmed that the exchange is still confident in his legal status and is ready to compete for what he described as a misleading lawsuit. He concluded by saying that the commercial operations in Oregon will continue as usual.
Distinctive image from Dall-E, Chart from TradingView.com
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