Oregon AG Files Lawsuit Against Coinbase for Selling 31 “Crypto Securities” Including XRP!

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So, guess what? Just a few days before Coinbase launched its super fancy, CFTC-regulated XRP futures on its U.S. derivatives platform, the Oregon Attorney General decided to throw a massive legal wrench in the works. How? By filing a lawsuit against the company. You know, no big deal. The lawsuit claims that 31 cryptocurrencies sold on Coinbase — including the ever-popular XRP, UNI, LINK, AAVE, and MKR — are actually unregistered securities. Because why wouldn’t they be, right? 🙄

But hold onto your wallets, folks, because this lawsuit goes WAY beyond what the SEC was initially crying about. The SEC had a list of 13 tokens; Oregon? They’ve upped the ante to a whopping 31. They’re calling these tokens “crypto securities,” and they’re accusing Coinbase of offering and selling them as investment contracts through Coinbase and Coinbase Prime. Are we playing poker here or what? 🎲

Now, let’s talk about the star of the show — XRP. Cue dramatic music. 🎶 What’s got everyone’s eyebrows in orbit is the fact that this lawsuit is targeting XRP. Funny, right? Coinbase *delisted* XRP back in December 2020 after the SEC sued Ripple, and then, shocker, *didn’t relist it* until after that juicy July 2023 summary judgment from Judge Torres. That ruling basically said, “Hey, XRP isn’t a security,” but apparently, the Oregon AG didn’t get the memo. 🙄

Days before Coinbase’s CFTC-regulated XRP futures go live on Coinbase Derivatives, the Oregon AG files a complaint alleging XRP sold on Coinbase and Coinbase Prime is a ‘crypto security’… because, why not? 🤷‍♂️

— bill morgan (@Belisarius2020) April 22, 2025

But wait, there’s more! This lawsuit isn’t just an inconvenience for Coinbase. Oh no, it’s arriving at the most *perfect* time possible for the exchange, considering they just launched XRP futures trading for U.S. customers on April 21. Looks like someone’s feeling pretty good about XRP’s regulatory future. 💪

So, what does this all mean for the future of crypto in the U.S.? Well, it’s definitely not boring. The lawsuit has sparked a fresh, sparkling debate about how we even define digital assets in this crazy world of crypto. Regulators and state officials are clearly on different pages, because nothing says “progress” like confusion, right? 🤷‍♀️

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2025-04-22 08:46