Solana

United

Circuit

Northern

Chainlink

<a href="https://bitcoinworld.co.in/new-lawsuit-filed-against-coinbase-affecting-solana-and-7-other-altcoins/" title="New Lawsuit Filed Against Coinbase: Affecting Solana and 7 Other Altcoins" rel="noopener noreferrer nofollow"></a>
A new lawsuit has been filed against cryptocurrency exchange Coinbase in the USA. A total of eight altcoins are mentioned in the lawsuit.
<a href="https://www.coinbase.com" rel="noopener noreferrer nofollow">Coinbase</a>, the leading cryptocurrency exchange by trading volume in the United States, is once again under the legal spotlight.&nbsp;
A new class-action lawsuit has been filed against the company, claiming that its entire business model has been unlawful from its inception. This case mirrors a similar lawsuit the company is currently facing.
Plaintiffs in the new lawsuit claim that the ALGO, XLM, SOL, MANA, MATIC, NEAR, UNI and XTZ tokens traded on Coinbase are, in fact, securities.&nbsp;
The lawsuit was filed in the Northern District of California by west coast law firm Scott+Scott, which represents plaintiffs from California and Florida.
See Also: <a class="row-title" href="https://bitcoinworld.co.in/chainlink-collaborates-with-rapid-addition-to-develop-adapter-for-institutional-digital-asset-trading/" aria-label="“Chainlink Collaborates With Rapid Addition To Develop Adapter for Institutional Digital Asset Trading” (Edit)" rel="noopener noreferrer nofollow">Chainlink Collaborates With Rapid Addition To Develop Adapter for Institutional Digital Asset Trading</a>
The lawsuit alleges that Coinbase has “knowingly, willfully, and repeatedly violated state securities laws since it began doing business.”&nbsp;
In response to these allegations, Coinbase issued a statement denying the allegations as “legally unfounded,” expressing full faith in due process, and stating their intent to fully address the allegations at the appropriate time.
Interestingly, this case bears a striking resemblance to another case currently pending in the courts. This other lawsuit also alleges consumer damages resulting from the sale of securities on Coinbase’s platform. The case, which was initially dismissed in February 2023, was partially revived following a recent decision by the 2nd U.S. Circuit Court of Appeals.
This latest case differs from Coinbase’s highly publicized legal battle with the Securities and Exchange Commission (SEC) on a similar issue, namely whether tokens sold on Coinbase are securities.&nbsp;
In this ongoing case, Coinbase recently filed a temporary appeal challenging a judge’s decision to allow the case to proceed.
<blockquote>
 Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
</blockquote>
#Binance #WRITE2EARN
The post <a href="https://bitcoinworld.co.in/new-lawsuit-filed-against-coinbase-affecting-solana-and-7-other-altcoins/" rel="noopener noreferrer nofollow">New Lawsuit Filed Against Coinbase: Affecting Solana and 7 Other Altcoins</a> appeared first on <a href="https://bitcoinworld.co.in" rel="noopener noreferrer nofollow">BitcoinWorld</a>.

New Lawsuit Filed Against Coinbase: Affecting Solana and 7 Other Altcoins

ItsBitcoinWorld

Other articles published on May 6, 2024

GBM Auctions to Host Memorabilia Auction with Polkadot Creator Dr. Gavin Wood

Ethereum’s Price Surpasses $3100

Tom Lee Doubles Down on $150,000 Bitcoin Price Call

FreshPet Reports $0.37 EPS and $223.8 M in Q1 Revenue, Beating Expectations

Fetch.ai Price Prediction: FET Surges 11%, But Experts Say Consider This New AI Meme Coin For 100...

Activision Releases Call of Duty DLC in Support of Military Veterans

Join our free newsletter for daily crypto updates!