Coinbase Calls for Uniform Regulation of the Crypto Market in the US

The lawyer recalled a case filed in the spring by the Oregon Attorney General's Office, in which authorities filed a lawsuit against Coinbase, accusing the platform of trading unregistered securities. Grewal expressed outrage: in his opinion, if activities permitted by federal law simultaneously become grounds for claims by individual states, this demonstrates confusion and undermines the principle of federalism.

In July, the exchange faced significant restrictions: it was forced to suspend staking services for customers in California, New Jersey, South Carolina, and Wisconsin. The local authorities' decisions took effect immediately, without prior hearings. Grewal believes that such steps are reminiscent of the SEC's aggressive tactics, which has actively used enforcement actions against crypto companies in the past.

Separately, Coinbase highlighted controversial requirements put forward by Maine authorities. They proposed requiring cryptocurrency services to record recipient data in self-service wallets and provide this information to government agencies during investigations. The company argues that this practice violates users' fundamental privacy rights.

Despite these conflicts, Coinbase occasionally finds common ground with regional authorities. For example, in May, after a nine-month hiatus, the exchange resumed trading of the XRP cryptocurrency for customers in New York. At the time, Grewal emphasized Coinbase's willingness to consider state asset custody requirements and engage with regulators to achieve a balance between security and innovation.

In its letter to the Department of Justice, Coinbase insists that a unified regulatory approach is necessary for the sustainable development of the crypto industry in the US. The company argues that varying interpretations and sudden bans only exacerbate legal uncertainty, hinder market development, and limit user opportunities across the country.