2nd US Circuit Court revives 2021 lawsuit accusing Coinbase of selling unregistered securities and failing to register as a broker-dealer.
A US appeals court has revived a 2021 lawsuit accusing Coinbase, the largest US cryptocurrency exchange, of illegally selling unregistered securities and failing to register as a broker-dealer. The 2nd US Circuit Court of Appeals ruled that a lower court judge should not have relied on a December 2021 user agreement to determine that Coinbase did not hold title to or sell 79 tokens customers traded. The case was returned to U.S. District Judge Paul Engelmayer in Manhattan, who had dismissed it in February 2023.
April 04, 2024
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