The United States Securities and Exchange Commission secured a major win in court after a judge ruled in its favor and denied Coinbase’s motion to dismiss.
According to the judge’s ruling, the Securities and Exchange Commission’s claim that Coinbase engaged in the sale of unregistered securities could be heard by a jury at trial.
Big Win For The SEC
US District Judge Katherine Failla’s decision clears the path for the Securities and Exchange Commission to pursue its lawsuit against Coinbase. According to the commission, Coinbase operates as an unregistered securities exchange, broker, and clearing agency. Court documents from the 27th of March further state,
“The Court finds the SEC has sufficiently pleaded that Coinbase operates as an exchange, as a broker, and as a clearing agency under the federal securities laws, and through its Staking Program engages in the unregistered offer and sale of securities.”
The Securities and Exchange Commission filed it
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