"Coinbase Faces Lawsuit for Securities Law Violation... U.S. Court Denies Dismissal Request"

Coinbase, a cryptocurrency exchange in the United States, continues to face a lawsuit for allegedly violating securities laws.

On the 8th, Reuters reported, "Coinbase, the largest cryptocurrency exchange in the U.S., has been sued for selling securities without registering as a securities broker, and the U.S. court's dismissal request has been denied, allowing the lawsuit to proceed."

Previously, individual investors filed a lawsuit claiming that Coinbase sold unregistered securities and demanded compensation for financial damages. Coinbase argued that it is not a legal seller under federal securities laws and thus cannot be sued, but the U.S. court dismissed this claim.

The media added, "The U.S. Securities and Exchange Commission (SEC) has also filed a separate lawsuit against Coinbase, claiming that Coinbase illegally allowed the trading of tokens that should be registered as securities."