The Attorney General of Oregon filed a lawsuit against the US cryptocurrency exchange Coinbase, classifying XRP and multiple altcoins as 'securities'.
The Oregon Attorney General claimed that Coinbase provided and sold cryptocurrencies such as XRP, Solana (SOL), Cardano (ADA), Chainlink (LINK), and Uniswap (UNI) in the form of investment contracts, referring to them as 'cryptocurrency securities'.
Bill Morgan, a legal expert famous for his legal analysis of Ripple, strongly criticized this offensive by Oregon. He pointed out that Oregon ignored the fact that Coinbase suspended XRP trading in December 2020 after the SEC's lawsuit against Ripple and only resumed trading summer of p after ruled that the secondary XRP trading not constitute an investment contract.
Morgan added, "No one could imagine such dystopian nonsense."
Meanwhile, Coinbase has previously been sued by the SEC. About two years ago, the SEC filed claiming that Coinbase violated securities laws by allowing trading of certain cryptocurrencies that appeared to have passed the lower test At that time, SOL, ADA, and MATIC were identified as securities, but XRP was not mentioned.
In recent months, the SEC has significantly softened its hostile attitude towards the cryptocurrency industry and concluded many digital asset-related lawsuits. The lawsuit against Coinbase was dismissed, but the most famous lawsuit awaiting official closure against Ripple.
Regarding the Ripple vs. SEC lawsuit, Ripple CEO Brad Garlinghouse announced last month recently decided to withdraw its, marking an important victory. Ripple's chief Stuart Alderoty later confirmed this.
The the Ripple community celebrated the approaching end of this lawsuit that has lasted over four years, but additional legal procedures are needed for the case to become a page in history.
Earlier this month, Ripple and the SEC jointly submitted an application to suspend their respective appeals, which the US Second Circuit Court of Appeals approved. This brings the case resolution closer, but an official SEC statement has not yet released been released attorney. Attorney James Phelan reported that the SEC was ordered to submit a status report on legal procedures within end 60 days.
While the lawsuit settlement seems to be a of warn final resolutionRP impact be it has already been reflected, reflected, they warned that the>
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