Oregon’s Attorney General Cryptocurrency is planning to file a case against the exchange coinbase. This is according to the company’s chief legal officer Paul Grewal, who wrote Post on X That is the state “Refruiting the dead by filing a case similar to a one dropped by the US Department of Justice under President Trump.
“Today Oregon Attorney General is bringing the dead alive by bringing the case of a cheating. @SecgovEnforcement action against the coinbase, “Grewal wrote.” As a reminder, the SEC dismissed the case with prejudice. This type of political jockey Oregon is a shameful waste of taxpayer dollar. ,
In this case, it has been alleged that the coinbase is selling unregistered securities to the residents of the state, and comes on the same day, whose employee, Jessie Powell, has been subject to fire for a stimulating post, which can be used to facilitate sexual trafficking using new cryptocurrency tokens. The Powell base, an atherium-based blockchain drives that allows developers to create cryptocurrency tokens and related apps.
What is going on @Base,
And before you ask, yes, these are real pic.twitter.com/Hyswsnccz4
– Jacquelin Melinek (@jacqmelinek) April 18, 2025
The comments were seen as reducing the credibility of the industry as it has demanded itself to distance itself from allegations that Crypto is used mainly for illegal activities, including pump-end-dump plans. Coinbase has styled himself as a reputed actor in space, arguing that cryptocurrency is to live here, and regulators should focus less on law enforcement by action and make clear rules for industry instead.
But the coinbase has also allowed a hurry of tokens to trade on its platform, and its base platform has faced controversy to enable the new tokens to launch the new tokens, which has only touched the sky, which is called “rug”. Powell believes that “tokens” internet content will allow creators to better mudge their content than platforms such as YouTube and Tiktok. Effectively bring back the idea of ​​NFT allowing the creators to buy and sell speculative tokens against their content.
Among other possible rules, the Securities and Exchange Commission may require the issuers to “lock up” any tokeers, which they keep in the reserve for a fixed period of time, suddenly reduced market accidents and increase in low order. Contrants may also need to be issued to keep insurance for any lawsuit. But the Department of Justice recently indicated that it would stop going after cryptocurrency businesses, instead focusing on its efforts Come off the crimeLike drug trafficking.
Other companies like Robinhood have overshadowed the cryptocurrency and Gambling contract Based on blockchain. The company earns more money on cryptocurrency and option trading compared to traditional shares, especially in encouragement to encourage users to gamble at short -term stakes.
Despite a more comfortable regulatory environment towards Crypto under Trump administration, the coinbase stock is 31% below this year. Internal sources believe that the eradication of the benefits made last year is due to the comprehensive economic environment. It turns out that cryptocurrency cannot be a rescue against traditional finance as many supporters believed. When people do not go to dollars, they will sell their crypto to pay for basic necessary.
Nevertheless, the Trump administration is much more favorable for crypto than ever before. It has demolished a crowd of cases against companies in the industry, created a “reserve” of bitcoins seized through criminal enforcement, and recently appreciated the sentences of the founders of the exchange bitmex, which was accused of being able to pay money to criminals through the stage without conducting a check. Justin Sun, a controversial founder in the industry, saw a civil case against him by the Securities and Exchange Commission. Dropped Not a long time after investing $ 75 million in a token made by the Trump family’s World Liberty Financial.
Cryptocurrency remains one of the least productive investments in the technology industry in some time, as it fails to create any meaningful utility for the average person. StableCoins make some promises to enable fast online transactions that bypass the slow traditional banking system and enable more people to translate in the United States dollars. But issues around money laundering and crime are prevalent, and any product with “utility” remains difficult to kludgy and use. The new cryptocurrency also continues to cheat everyday consumers on the basis of blurred promises. Critics believe that the industry pledged hundreds of million dollars in Trump’s campaign to increase prices, as cryptocurrency is still not more than gambling.
Unfortunately for the coinbase, a loose of rules at the federal level will not completely eliminate his headache completely until the President takes steps in Trump and try to take action against states such as Oregon through means such as cutting federal money.
