俄勒岡DOJ起訴Coinbase，指責交換未註冊的證券

當每個人都認為“ Altcoin作為證券”的辯論在SEC今年對加密貨幣公司提起了幾項訴訟後，就已經熄滅了

Just when everyone thought the debate of “altcoin as securities” had extinguished after the SEC dropped several lawsuits against crypto firms this year, the State of Oregon is hitting one of the most popular exchanges in the U.S. with a fresh legal challenge.

就在美國證券交易委員會（SEC）今年對加密貨幣公司（Crypto）公司撤銷的幾項訴訟之後，每個人都認為“ Altcoin作為證券”的辯論已經消失了，俄勒岡州正在面臨新的法律挑戰，這是美國最受歡迎的交易所之一。

On Friday, Oregon State Attorney Dan Rayfield announced a lawsuit against Coinbase (NASDAQ:COIN) for allegedly violating the State’s securities laws. The complaint, filed in Multnomah County Circuit Court, claims Coinbase promoted and sold high-risk investments categorized as unregistered securities.

星期五，俄勒岡州檢察官丹·雷菲爾德（Dan Rayfield）宣布針對Coinbase（NASDAQ：COIN）的訴訟，原因是據稱違反了該州的證券法。該投訴是在Multnomah縣巡迴法院提起的，聲稱Coinbase促進並出售了歸類為未註冊證券的高風險投資。

State Attorney Rayfield accused Coinbase of “building trust with Oregon consumers” before selling unregistered investment assets. “Oregonians lost money, and we believe Coinbase should be held accountable,’ he said.

州檢察官雷菲爾德（Rayfield）在出售未註冊的投資資產之前，指控Coinbase“與俄勒岡州消費者建立信任”。他說：“俄勒岡人損失了錢，我們認為Coinbase應該負責。”

The Oregon DOJ is highlighting the risks tied to unregistered securities, like the Internet Computer Protocol (ICP). When it launched on Coinbase, ICP started trading at a sky-high $700, but it quickly dropped to $72 in a month. Today, it stands at around $7, marking a 99% decline from its peak.

俄勒岡DOJ強調了與未註冊證券相關的風險，例如Internet計算機協議（ICP）。當它在Coinbase上推出時，ICP開始以700美元的高價交易，但每個月迅速下降到72美元。如今，它的價格約為7美元，標誌著其峰值下降了99％。

The DOJ argues that cases like this demonstrate how a lack of enforcement leaves everyday traders exposed to devastating losses in the crypto market.

司法部認為，這樣的案件表明，缺乏執法是如何使日常交易者在加密貨幣市場中遭受毀滅性損失。

Coinbase CLO Reacts

共插基CLO反應

Coinbase’s CLO Paul Grewal reacted to the news of the lawsuit on Twitter. In the post, he compared Oregon’s lawsuit to the SEC filing, calling it a “copycat case” that reflects Gary Gensler’s broad approach to crypto regulation.

Coinbase的CLO Paul Grewal對Twitter上的訴訟消息做出了反應。在帖子中，他將俄勒岡州的訴訟與SEC申請進行了比較，稱其為“模仿案件”，反映了加里·蓋斯勒（Gary Gensler）對加密法規的廣泛方法。

Today the Oregon Attorney General is resurrecting the dead by bringing a copycat case of @SECGov's enforcement action against Coinbase. As a reminder, the SEC dismissed that case with prejudice. This type of political jockeying is an embarrassing waste of Oregon taxpayer…

今天，俄勒岡州總檢察長正在通過提出 @secgov對Coinbase的執法訴訟來復活死者。提醒您，SEC以偏見駁回了該案。這種類型的政治競爭是對俄勒岡納稅人的尷尬浪費…

Paul Grewal criticized the lawsuit as a blatant example of political maneuvering, and a misuse of Oregon taxpayer dollars. He argued that such actions distract from the critical progress being made toward bipartisan legislation for digital assets. According to Grewal, this lawsuit will ultimately undermine efforts to protect consumers and strengthen America's position as a global leader in the digital economy, creating more obstacles at a pivotal moment for the industry.

保羅·格雷瓦爾（Paul Grewal）批評這一訴訟是政治機動的公然例子，並濫用了俄勒岡州的納稅人美元。他認為，此類行動分散了對兩黨關於數字資產立法的關鍵進展。根據格雷瓦爾（Grewal）的說法，這項訴訟最終將破壞保護消費者並加強美國在數字經濟中成為全球領導者的地位，在關鍵時刻為該行業創造更多障礙。

Oregon Takes Aim At Trump Administration’s Regulatory Gaps

俄勒岡州針對特朗普政府的監管差距

The State Attorney was blunt about his aim to intervene in potential regulatory gaps from the Trump administration. Since taking office in January, Trump’s newly formed SEC—now under Acting Chair Mark Uyeda—has largely left crypto firms alone, in stark contrast to the current administration’s approach under Gary Gensler.

州檢察官對他的目標是乾預特朗普政府潛在的監管差距。自1月份上任以來，特朗普新成立的SEC（現在是代理主席馬克·烏耶達（Mark Uyeda））在很大程度上使加密貨幣公司獨自一人，與當前政府在加里·貢斯勒（Gary Gensler）領導下的態度形成鮮明對比。

Attorney General Rayfield maintains that states must step in to “fill the enforcement vacuum,” asserting that federal regulators have largely failed to pursue cases of cryptocurrency-related violations. This lawsuit, according to Oregon’s DOJ, is a direct response to that lack of action at the federal level.

總檢察長雷菲爾德（Rayfield）堅持認為，各州必須介入“填補執法真空”，並斷言聯邦監管機構在很大程度上未能提起與加密貨幣相關的違法行為。根據俄勒岡州司法部的說法，該訴訟是對聯邦一級缺乏行動的直接回應。