Coinbase Sues Oregon Over Secret Crypto Policy Shift, Demands Records

• Coinbase sues Oregon over hidden crypto policy change and secrecy.
• Lawsuit targets sudden shift in state’s digital asset regulation approach.
• Exchange demands public records exposing reason behind Oregon’s legal move.

For years, Coinbase says Oregon clearly stated that digital currencies like Bitcoin were not subject to state regulations. Nonetheless, in April, the Attorney General filed a lawsuit against Coinbase, arguing that it was fraudulently selling unregistered crypto products to state residents.

The company claimed that this new policy change did not involve hearings or formal announcements. Coinbase claims that such a lack of transparency contravenes the rules of governance and decision-making.

Currently in court, the exchange seeks access to public records to uncover why the state reversed its initial stance. There was also a concern over the participation of the state-contracted, private law firms, which may receive up to 30 percent of the financial recovery.