Oregon Attorney General Seeks to Block Exchange from Transferring Securities Lawsuit to Federal Court
2025/07/04 13:14Odaily Planet Daily reported that the Oregon Attorney General has requested a federal court to dismiss a motion by a certain exchange to transfer a securities lawsuit to federal court, insisting that the case should remain in state court. The lawsuit accuses the exchange of promoting unregistered crypto securities to state residents and profiting millions of dollars in fees. The core dispute centers on the fact that Oregon applies the "Pratt Test," which is broader than the federal "Howey Test," meaning that even if crypto assets do not meet the federal definition of securities, they may still be considered state-level securities. Legal experts point out that if the state court's ruling stands, it could trigger a wave of enforcement actions by various states against crypto companies based on local securities laws. (Decrypt)
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