The Well-Known Criminal Officer of Coinbase on the Oregon Securities Lawsuit case, Paul Grewal retaliated, saying that the allegations made in the case are completely wrong and politically motivated. Significantly, the state of Oregon filed a case against Coinbase for violating security laws. In this case it was alleged that Coinbase illegally listed some security on its website, which caused damage to common investors. On this matter, Coinbase’s Well-Known Criminal Officer Paul Grewal has released this official statement of the company on X.
Oregon’s charge: Coinbase violates security laws
Oregon’s Attorney General, Dan Rayfield, accused Coinbase, saying that the company illegally listed security, causing damage to investors. According to him, Coinbase gave permission to these securities to trade without registration and did not give the right information about their risks. According to Rayfield: “Coinbase won the trust of the investors of Oregon and implicated them in a high-risk investment, causing the investors to have a big financial loss.”
Coinbase Reversal: This case is politically motivated
Coinbase has reacted strongly to Oregon’s trial. The company’s Well-KNOWN Criminal Officer Paul Grewal posted on the X on 18 April and described the complaint of Oregon as legally weak and politically motivated. He alleged that many important legal facts have been deliberately abandoned in this complaint. Giving examples, he said:
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The decision of the US District Pass Judgement on Katherine Polk Failla, in which the Coinbase was given permission of Interlocutory Attraction in the case against SEC, which will help decide whether Crypto transactions can be seen as traditional securities.
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Pass judgment on Analisa Torres decided in 2023, which said that sales on the Secondary Marketplace of RIPPLE (XRP) will not be considered as Securities.
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Grewal also informed that two private law firms are also involved in this complaint, which can earn economic benefits from this case. In addition, he also described SEC chair Gary Gensler as a direct political propaganda as “Crypto Lobbyist”.
He said that this case is an attempt to make it a narrative against Crypto, more than the security of investors. Also, “These lawsuit is politics in the name of law and its aim is to stop innovation, not to help investors.”
Before Coinbase wins Crypto Legislation against SEC in legal battle Was.
Conclusion
This legal conflict between Coinbase and Oregon can prove to be important for the Crypto industry. If the Oregon wins the state, it can tighten the legal framework about security law and cryptocurrency, which can provide better security to investors. On the other hand, the victory of Coinbase will make the path easier for the crypto market in the USA. There is a continuous debate on cases related to Crypto Industry Regulation in USA, recently, Coinbase CEO talked about changes in StableCoin rules Was.
