Class action against Coinbase

Another class action lawsuit against Coinbase is underway in the US. The exchange allegedly violated securities laws by trading cryptocurrencies.

A class action lawsuit has been filed in the US against the exchange Coinbase for allegedly misleading investors.

Coinbase could be the have violated securities laws.

The lawsuit specifically concerns the sale of the cryptocurrencies Solana, Polygon, Near, Decentraland, Algorand, Uniswap, Tezos and Stellar Lumens.

According to the plaintiffs, these are securities. Coinbase also misleadingly used the term "securities broker" in the licensing agreements.

"Coinbase has knowingly and repeatedly violated state securities laws since it began doing business," the indictment states.

Damages are being claimed. In parallel, a similar class action lawsuit is already pending against the exchange.

The SEC has also sued the company over similar allegations.

Coinbase has taken legal action against this -. unsuccessfully.