Express
Oregon Attorney General Seeks to Prevent Coinbase from Transferring Securities Lawsuit to Federal Court
Summary: According to reports, the Oregon Attorney General has requested the federal court to reject Coinbase's motion to transfer a securities lawsuit to federal court, insisting that the case should remain in state court. The lawsuit alleges that Coinbase promoted unregistered crypto securities to state residents and profited from millions of dollars in fees. The core ...
According to reports, the Oregon Attorney General has requested the federal court to reject Coinbase's motion to transfer a securities lawsuit to federal court, insisting that the case should remain in state court. The lawsuit alleges that Coinbase promoted unregistered crypto securities to state residents and profited from millions of dollars in fees. The core dispute lies in Oregon's broader 'Pratt test' compared to the federal 'Howey test,' which could classify crypto assets as state securities even if they do not meet federal securities definitions. Legal experts point out that if the state court ruling is upheld, it could trigger a chain of enforcement actions by states against crypto companies based on local securities laws. (Decrypt)
Tags:
Link: Oregon Attorney General Seeks to Prevent Coinbase from Transferring Securities Lawsuit to Federal Court [Copy]
