Coinbase is facing a new class action lawsuit in California
The lawsuit states that Coinbase has offered and sold securities and investments to the plaintiffs and class. The extensive list of the tokens that constitute digital securities includes Algordand , Near Protocol , Polygon , Uniswap , Solana , and other tokens.
The plaintiffs allege that the leading US exchange has"knowingly" and"intentionally" violated state security laws since it started doing business by operating as an unregistered broker-dealer. "Coinbase solicited every purchase and sale of Digital Assets by means of general solicitations including those on its website and in social media advertising, traditional advertising, and even Super Bowl commercials. At all times, Coinbase was soliciting the customers to invest in the Digital Asset securities that it offered on its broker platform," the lawsuit says.
The U.S. Securities and Exchange Commission took Coinbase to court last year, alleging that the exchange engaged in unregistered sales of securities. As reported by U.Today, the SEC In March, the SEC managed to score a major win against the cryptocurrency giant, with the court rejecting its bid to dismiss the lawsuit.
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