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SEC scores big win in lawsuit against crypto exchange Coinbase - TL;DR CNBC

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

Tickers: BTC.CB=COIN

Keywords: lawscryptocurrencybusiness newsunited statesbitcoinenergybreaking news: technologybusinessgary genslerbitcoin/usd coinbasecoinbase global inclawsuitsfintechtechnology

Source: https://www.cnbc.com/2024/03/27/sec-scores-big-win-in-lawsuit-against-crypto-exchange-coinbase.html


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