A US federal judge spent on Friday that Coinbase, the largest encrypted currency exchange in the United States, should face a lawsuit from agents who accuse her of selling securities illegally without registration as a mediator.
The American boycott judge, Paul Eng, refused in Manhattan, Coinbase’s argument, as not qualified as a “legal seller” under the Federal Securities Law.
The judge cited allegations that Coinbase dealt directly with customers, making her a seller under the law. He also refused to reject claims under the laws of California, Florida and New Jersey, saying that alleged customers were a direct seller of symbols.
Coinbase confirmed that he does not recount or sell securities and said he will defend his position in court.
The lawsuit was initially rejected in February 2023, but the Court of Appeal in the second American district re -revived parts of it in April 2024. The Angloire rule allows to move forward, as customers search for unspecified compensation.
Separately, the US Securities and Stock Exchange Committee is sued Coinbase by allegedly enabling unregistered securities trade. The Federal Manhattan judge recently arrested this case to allow Coinbase to appeal a major legal question about whether the digital code deals are qualified as investment contracts under a previous Supreme Court in 1946.
In the presentation of January 17, Coinbase argued that the appeal could help clarify the organizational uncertainty in the encrypted currency market.
