Deep Tide TechFlow News, on July 11, the largest cryptocurrency exchange platform in the United States, Coinbase, filed a lawsuit against the Oregon state government, demanding the release of documents related to its sudden change in cryptocurrency regulatory stance. Coinbase Vice President Ryan VanGrack stated that the Oregon state government abruptly classified digital assets as regulated securities without legislative procedures or public participation and filed a lawsuit against Coinbase in April this year, accusing it of operating illegally without registration.
It is worth noting that the lawsuit in Oregon occurred just two months after the federal government withdrew its SEC lawsuit against Coinbase, and currently, no other states have followed up with similar lawsuits. Coinbase believes that the out-of-state law firm hired by the state government could take 20%-30% of potential compensation, harming the interests of local residents.