Oregon AG Sues Coinbase: XRP and Other Cryptos as Securities

Oregon Attorney General Dan Rayfield has initiated legal action against Coinbase, alleging the exchange offered unregistered securities. The lawsuit, reported by Eleanor Terrett of Crypto in America, claims that 31 cryptocurrencies, including XRP, Chainlink (LINK), and Uniswap (UNI), were sold as investment contracts and should be classified as securities under Oregon law. This list significantly expands upon the SEC's previous designation of 13 cryptocurrencies as securities. The lawsuit intensifies the regulatory scrutiny surrounding Coinbase and the broader cryptocurrency market in the United States. Attorney General Rayfield previously announced his intention to sue, prompting a strong rebuttal from Coinbase, who characterized the lawsuit as a "politically motivated attack without legal basis." The outcome of this case could set a precedent for how cryptocurrencies are regulated in Oregon and potentially other states. The lawsuit highlights the ongoing debate regarding the legal status of various digital assets and the responsibilities of cryptocurrency exchanges. ```