Coinbase Emerges Victorious in Case Over Unregistered Securities Claims
Updated: Feb 9
Source: AdobeStock / gguy
Major crypto exchange has achieved success in its legal battle related to a lawsuit filed by a group of clients who claimed the platform facilitated the sale of unregistered securities and failed to register as a broker-dealer. The exchange managed to secure a dismissal of the class-action suit.
The disenchanted customers behind the suit, which was filed with a New York federal court in October 2021, requested damages resulting from the sale or soliciting of some 79 digital assets by Coinbase. The plaintiffs claimed the sale represented illegal contracts as the platform is not registered with the U.S. regulator, the Securities and Exchange Commission, Reuters reported.
U.S. District Judge Paul Engelmayer in Manhattan ruled that clients who used the services of the Coinbase and Coinbase Pro trading platforms failed to demonstrate that the platform sold or held title to the 79 crypto assets they traded. The plaintiffs said that, in contrast with platforms that match buyers and sellers, the exchange acted as an "intermediary," and this made it the "actual seller" of the digital assets. Read the full article here
Power to the people!
For a short overview of the FIX00 project 🙂 please use this link: The Start of something new
If you still have questions, we are happy to have you join us. We take great pride in our company and the revolutionary change it heralds. Please feel free to contact us if you need further information or have further questions:: Contact Us
If you don’t want to miss out and are ready to buy NOW, please CLICK here: BitMart
The future is filled with promises for us all. We're glad you're with us.
We look forward to growing together: