🚨NEW: Oregon Attorney General Dan Rayfield, a Democrat, has apparently informed @coinbase he plans to pick up where the SEC left off and pursue the exchange over charges of operating an unregistered securities exchange and broker-dealer. The state is also resurrecting the SEC’s original claim that Coinbase's staking program involves the unregistered offer and sale of securities. The move comes just two months after the SEC dropped its case against Coinbase, citing the work of the new Crypto Task Force and efforts at the federal level to provide a regulatory framework for crypto. Coinbase’s Chief Legal Officer @iampaulgrewal says the lawsuit is meritless and the company “will do whatever is required to beat it.”