Key Takeaways
- Coinbase alleges that Oregon state officials abruptly shifted their interpretation of over 30 digital assets on the platform
- Coinbase is seeking injunctive relief to compel Oregon officials to release the requested records, arguing that the lack of transparency undermines public trust and fair regulation.
Coinbase has launched a legal challenge in Oregon, accusing state officials of reversing their stance on digital assets without public transparency. The lawsuit, filed in Marion County Circuit Court, names Governor Tina Kotek and Attorney General Dan Rayfield in their official capacities.
Coinbase alleges that Oregon state officials abruptly shifted their interpretation of over 30 digital assets on the platform, treating them as unregistered securities without public hearings or rulemaking procedures.
The complaint also claims that the state violated public records laws by failing to produce internal communications related to this policy change, even after the company submitted requests covering tens of thousands of emails.
Coinbase is seeking injunctive relief to compel Oregon officials to release the requested records, arguing that the lack of transparency undermines public trust and fair regulation.
At the same time, Coinbase has attracted institutional attention from Europe. A recent filing with the U.S. Securities and Exchange Commission (SEC) shows that the Czech National Bank acquired 51,732 shares of Coinbase Global.
Valued at USD 18.1 million at the end of June, the stake has since increased to USD 20 million based on recent trading prices. The purchase marks the central bank’s first publicly disclosed investment in a major crypto exchange.
Earlier this year, Czech central bank governor Ales Michl expressed interest in diversifying the bank’s reserves, saying up to 5% of its Euros 140 billion holdings could be allocated to Bitcoin or other crypto assets, pending approval.
The investment comes at a time when Coinbase continues to expand its global reach despite regulatory pressure at home. In May, the company acquired crypto derivatives exchange Deribit for $2.9 billion, strengthening its position in the crypto derivatives market.
In Europe, Coinbase has secured a license under the EU’s Markets in Crypto-Assets (MiCA) framework through Luxembourg’s financial regulator. The exchange plans to base its European headquarters in Luxembourg.
