Analysis Daily TheBitTimes.com

In a significant development in the crypto industry, the U.S. Securities and Exchange Commission (SEC) has charged Coinbase, a leading US-based crypto exchange, with operating as an un register ed national securities exchange, broker, and clearing agency. Interestingly, this suit comes barely 24 hours after the regulator filed a similar lawsuit against the largest crypto exchange, Binance. Coinbase is also accused of failing to register its crypto asset staking-as-a-service program, according to an SEC complaint filed in the U.S. District Court for the Southern District of New York. BREAKING: SEC SUES #COINBASE The Securities and #Exchange Commission has filed a lawsuit against Coinbase, alleging that the #cryptocurrency exchange violated securities laws by listing and trading certain digital assets without register ing them as securities.#Crypto #FUD — Coin Edition (@CoinEdition) June 6, 2023 The SEC argued that since 2019, Coinbase had facilitated the buying a...

Source: AdobeStock / gguy  Major crypto exchange Coinbase 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 un register ed 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 register ed 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....