A class-action lawsuit against Coinbase Global Inc under federal securities law alleging the exchange sold unregistered securities and failed to register as a broker-dealer was dismissed by the US District Judge Paul Engelmayer on 1 February. The judge denied the customers’ claim that Coinbase was the actual seller of the disputed tokens and held that the exchange did not play a direct role in the transactions, though it had allegedly promoted tokens by mentioning their “purported value proposition” and participating in “airdrops”. The claims were dismissed with prejudice, which means the same claim could not be brought again.
Source: https://www.reuters.com
