Coinbase says Oregon DOJ’s contract with outside law firm created incentive to sue

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A vice president of cryptocurrency exchange Coinbase, which Oregon’s Attorney General Dan Rayfield is suing, said he’s been trying to understand why Oregon is the only state challenging the company after the federal Securities and Exchange Commission earlier this year agreed to drop its own civil suit against it.

So Coinbase filed its own public records lawsuit against Oregon’s governor, after it alleged the state “stonewalled” its requests for records to learn what prompted the state’s legal action, including contracts between the Oregon Department of Justice and two out-of-state law firms that are representing the state in its suit against the cryptocurrency company.

This week, Coinbase obtained a 2023 agreement between the state Justice Department and the Washington, D.C-based law firm Cohen Milstein Sellers & Toll, which is one of two firms representing Oregon in its suit against Coinbase.

In it, the state agreed to…

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