Coinbase has requested a US federal judge to intervene in a lawsuit brought by Oregon's attorney general, arguing that it mirrors a prior case filed by the SEC which should be under federal jurisdiction. The lawsuit, initiated by Oregon Attorney General Dan Rayfield, alleges that Coinbase sold unregistered securities to state residents, overstepping his authority and attempting to override federal law. Coinbase claims this complaint is essentially a copy of the SEC's case against the exchange. Rayfield has indicated that his lawsuit responds to the SEC's decision to drop their allegations after the change in administration, asserting the need for states to address regulatory gaps left by federal inaction. The motion filed by Coinbase recounts attempts to negotiate with Rayfield prior to the lawsuit but notes these efforts were declined. The case highlights ongoing tensions between state and federal regulatory approaches to cryptocurrency.

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