SEC scores big win in lawsuit against crypto exchange Coinbase
Publishing timestamp: 2024-03-27 12:33:33
Summary
The Securities and Exchange Commission won a major victory in its lawsuit against Coinbase, as a judge ruled that the claim of unregistered sales of securities could go to trial. Coinbase's shares dropped around 2.5% on the news. The SEC first filed suit in June, alleging that Coinbase was acting as an unregistered broker and exchange. The ruling also dismissed the claim that Coinbase acted as an unregistered broker by making its Wallet application available to customers. The news comes as Coinbase plays a bigger role in Wall Street's adoption of cryptocurrency.
Sentiment: NEGATIVE
Keywords: laws, cryptocurrency, business news, united states, bitcoin, energy, breaking news: technology, business, gary gensler, bitcoin/usd coinbase, coinbase global inc, lawsuits, fintech, technology,
Source: https://www.cnbc.com/2024/03/27/sec-scores-big-win-in-lawsuit-against-crypto-exchange-coinbase.html