Coinbase Under Legal Fire for Offering Solana (SOL), Polygon (MATIC), and Uniswap (UNI) – A New Twist in Crypto Trading

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Coinbase, a leading cryptocurrency exchange, and its CEO, Brian Armstrong, are facing a new class-action lawsuit filed in the United States District Court for the Northern District of California, San Francisco Division.
The lawsuit alleges that Coinbase’s business model is illegal and accuses the company of deceiving investors by selling securities in violation of state securities laws.
The suit specifically identifies tokens like Solana (SOL), Polygon (MATIC), Near Protocol (NEAR), Decentraland (MANA), Algorand (ALGO), Uniswap (UNI), Tezos (XTZ), and Stellar Lumens (XLM) as unregistered securities.

Coinbase faces a new lawsuit for selling Solana, Polygon, and Uniswap, among other tokens, allegedly violating state securities laws. The plaintiffs seek full rescission of the purchases, statutory damages, and injunctive relief.

Coinbase’s Legal Battles

This lawsuit adds to the legal challenges Coinbase is currently facing, including an ongoing battle with the U.S. Securities and Exchange Commission (SEC). The SEC also questions whether tokens sold on the exchange should be considered securities. It alleges that Coinbase has violated securities laws by facilitating the trading of at least 13 crypto tokens that should have been registered as securities.

Response to Lawsuits

In response to these legal challenges, Coinbase has maintained that secondary sales of crypto assets do not meet the criteria for securities transactions, disputing the applicability of securities laws to its operations. Following a judge’s decision ... Read the full article for FREE at COINOTAG!