From Nasdaq: 2024-03-27 09:55:23

A federal judge in Manhattan allowed the U.S. securities regulator’s lawsuit against Coinbase to proceed, dismissing one claim. The SEC alleges Coinbase facilitated trading of unregistered securities, operating as an illegal exchange. This case sets a precedent for applying U.S. securities law to digital asset companies, relying on a Supreme Court ruling defining securities. Coinbase argues crypto assets are different. In previous cases, judges sided with the SEC on securities classification.

Read more at Nasdaq: Coinbase must face US securities regulator’s lawsuit