Law firm Bragar Eagel & Squire Files Class Action Lawsuit Against Bitcoin Exchange in New Jersey District CourtCoinbase. Another claim came from Robbins Geller Rudman & Dowd LLP of San Diego.
According to the complaints, the platform made “false andmisleading statements” regarding the nature of their activities. According to the plaintiffs, Coinbase offered investors crypto-currency assets that were supposed to be registered as securities.
The lawyers also cited a Bloomberg report onalleged SEC investigation into Coinbase. The reason allegedly was the possible provision of US residents with access to trading in digital assets, which can be regarded as securities.
Earlier, the US Department of Justice announced the arrest of former exchange product manager Ishan Vahi and his two accomplices. They were accused of insider trading fraud.
The SEC filed a lawsuit against the suspectssimilar theses and emphasized that we are talking about securities fraud. This is how the department classified 9 of the 25 cryptocurrencies that the defendants allegedly used in their operations.
The CFTC criticized the actions of the regulator.
In August, Coinbase agreed to cooperate with BlackRock. Clients of the latter will have direct access to trading digital assets through the Aladdin portfolio management system.
Recall, US Senator Cynthia Lummis aidetold reporters that the SEC had begun investigating every registered cryptocurrency exchange in the country. According to him, the Coinbase investigation is the tip of the iceberg.
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