the Attorney General of Oregon today filed a securities enforcement lawsuit against the cryptocurrency exchange Coinbase, using the regulatory theory that the SEC has officially abandoned. Coinbase's Chief Legal Officer Paul Grewal stated that this action is "unfounded" and "undermines the constructive policy-making being carried out in Washington, D.C." At a time when both parties in Congress are pushing for comprehensive federal legislation on digital assets, Coinbase has pledged to continue normal operations in Oregon and stated that they are "prepared to address this lawsuit," vowing to "never stop standing up for customers and the industry."