- Plaintiffs argue that Coinbase acted as an unregistered broker and sold risky tokens.
- A judge rejected Coinbase’s latest dismissal bid and pushed the case into discovery.
- Coinbase plans to let users decide on token legitimacy in a major listing overhaul.
Coinbase is facing renewed legal trouble after a federal judge denied its latest attempt to dismiss a class action lawsuit accusing the crypto exchange of selling unregistered securities.
The lawsuit, originally filed in 2021, alleges that Coinbase illegally offered and sold digital assets that should have been registered as securities under US law.
The plaintiffs claim Coinbase acted as an unregistered broker and failed to disclose the risks associated with these tokens.
The lawsuit alleges that Coinbase “stands between the buyer and seller in each trade on its platform, meaning that it is the actual seller of the unregistered securities that transact each day on its platform.”
The…
