Coinbase Hit With New Lawsuit, 31 Cryptocurrencies Facing Scrutiny

The SEC’s recent reshuffle of lawsuits has left the cryptocurrency community on edge. Adding fuel to the fire, Oregon Attorney General filed a new lawsuit against Coinbase, targeting not just the platform itself, but also 31 altcoins including XRP and Cardano (ADA). The lawsuit alleges that Coinbase sold unregistered securities in its dealings with customers. 500,000 users were allegedly left uninformed about this action, according to Coinbase’s Chief Legal Officer Paul Grewal who expressed concern over the potential impact on the entire crypto industry.