SEC Wins A Gain in Lawsuit Against Coinbase

SEC Wins A Gain in Lawsuit Against Coinbase featured

SAN FRANCISCO Tuesday, April 16, 2024- The US Securities and Exchange Commission (SEC) partially won its legal battle against cryptocurrency exchange Coinbase on Tuesday, April 9, 2024. 1

A federal judge rejected Coinbase’s motion to dismiss the lawsuit, which alleges that the platform’s staking program involves the unregistered offer and sale of securities. 

This decision allows the SEC to proceed with its case.

Coinbase, however, did achieve a minor win.

The court agreed to dismiss the SEC’s claim that the exchange acted as an unregistered broker via its wallet application.

It is not clear how long the ongoing lawsuit will last or how long it will take to resolve. 

Coinbase maintains its position that its operations comply with all applicable laws and regulations. 

Sources
  1. SEC Wins Against Coinbase: https://tinyurl.com/49d95vuc[↩]
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