US “SEC” extortion ring scores win in Coinbase attack

Source: CNBC

“The Securities and Exchange Commission scored a major win in its lawsuit against Coinbase on Wednesday, as a judge ruled that its claim that the cryptocurrency exchange engaged in unregistered sales of securities could be heard by a jury at trial. Coinbase shares fell around 2% on news of the ruling in Manhattan federal court rejecting its bid to dismiss the SEC’s complaint. The regulator first filed suit against Coinbase in June, alleging the company was acting as an unregistered broker and exchange. The agency also demanded the company be ‘permanently restrained and enjoined’ from continuing to do so.” (03/27/24)