XRP in the Hot Seat Again: Oregon Sues Coinbase Over Unregistered Securities

Oregon's Lawsuit Shakes Up Crypto World

Hang on tight, crypto fans! XRP is back in the legal spotlight as Oregon takes a bold swing at Coinbase, accusing them of dealing in unregistered securities. The state's lawsuit rattles off a list of 31 tokens, with XRP right in the mix, all allegedly sold in defiance of state law. It's like a high-stakes game of legal roulette, and XRP is one of the chips on the table!

A Broadside Against Crypto Tokens

In this rollercoaster of regulatory drama, Oregon's legal smackdown on Coinbase has everyone talking. They're not just targeting one or two tokens; they're throwing the book at over 30, including our old friend XRP. Justin Slaughter, Paradigm's VP of regulatory affairs, pointed out that this is a revival of a familiar classification. It's like déjà vu all over again for the crypto world!

A Kitchen Sink Lawsuit with Teeth

Hold onto your hats, because this lawsuit is a monster! Oregon's AG isn't messing around, covering way more ground than the SEC's previous complaint. They're calling out 31 tokens as unregistered securities, and the list reads like a who's who of the crypto scene: UNI, AAVE, FLOW, LINK, MKR, and yes, XRP. This isn't just a lawsuit; it's a full-blown kitchen sink attack!

Details Emerge on Social Media

Justin Slaughter took to X on Monday to spill the beans, sharing a juicy excerpt from the filing. According to the post, Coinbase has been letting Oregonians trade crypto assets that are, according to the state, securities. Talk about a bombshell dropped on social media!

The Complaint's Heavy Hitters

The lawsuit pulls no punches, naming and shaming dozens of assets. We're talking Aave (AAVE), Cardano (ADA), Algorand (ALGO), Solana (SOL), Uniswap (UNI), and, of course, XRP. The state's complaint roars that Coinbase, through its platform and Prime service, made these assets available for trading in Oregon. They're calling them investment contracts, aka securities, that can be swapped for cash, other currencies, or more crypto. And each unit of these assets, the lawsuit adds, trades at the same price. It's like a high-stakes game of Monopoly, but with real money on the line!

SEC Case Dropped, But the Fight Continues

Remember when the SEC dropped its case against Coinbase back in February 2025? Well, don't celebrate too soon! Coinbase's chief legal officer, Paul Grewal, isn't mincing words, calling Oregon's move a "copycat" that could throw a wrench in Congress's bipartisan efforts to set national crypto rules. It's a wild ride, and it's far from over!