Coinbase Issues Cryptocurrency Call to US Justice Department: “Solve Urgent Problems!”

Coinbase, the largest cryptocurrency exchange in the United States, stated that there should be uniform cryptocurrency regulation in the country.

At this point, Coinbase sent a letter to the US Department of Justice requesting that federal regulators prevent state regulations from conflicting with national crypto policies and ensure uniform regulatory clarity.

Coinbase’s request comes after the state of Oregon filed a lawsuit against Coinbase for unregistered securities, despite the SEC withdrawing its lawsuit against the cryptocurrency exchange.

Coinbase states that although the country’s top regulator, the SEC, withdrew its lawsuit, states are filing lawsuits in defiance of the SEC’s decision.

In the letter, addressed by Coinbase Legal Counsel Paul Grewal, he stated:

“Despite the Trump administration’s positive regulatory efforts, crypto companies are being negatively impacted by states’ flawed interpretations of securities laws and their divergent actions.

If Oregon can sue us for services that are legal under federal law, we have a problem.

It has long been clear that the current patchwork of state laws is not only inefficient, but also slows innovation and harms consumers.

At this point, the Justice Department should take steps to address the pressing issues by calling on Congress to step in and enact comprehensive and uniform regulations.”

Oregon Attorney General Dan Rayfield filed a lawsuit against Coinbase last April, alleging that Coinbase was promoting the sale of unregistered cryptocurrencies to individuals in Oregon.

*This is not investment advice.