Coinbase was made by a further class action according to SEC allegations

Coinbase was made by a further class action according to SEC allegations

The stricken US cryptocurrency exchange Coinbase stares at another class.

The law firm Bragar Eagel & Squire submitted the lawsuit on Thursday at the US district court of New Jersey and claimed that Coinbase had made false or misleading claims about his business and compliance guidelines for more than a year, so A statement .

In particular, the multifaceted claim that Coinbase had kept the digital assets of customers because they knew that they could end up as the property of an insolvency mass, which may force customers to be treated as "general unsecured believers" of the stock exchange.

Coinbase is said to have allowed US customers to act with digital assets, of which the stock exchange “knew or ruthlessly disregarded” who should have been registered with the Securities and Exchange Commission (Sec).

The New York law firm acts on behalf of "all people and organizations", who bought "Coinbasewertapien" between April 14, 2021 and July 26, 2022. A coin base spokesman did not immediately answer a request for comment.

"The above behavior is subject to an increased risk of official and official reviews and enforcement measures," said the law firm in its explanation.

But although the lawsuit is still at the beginning, the allegations reflect the claims of the SEC, Coinbase camouflaged as a non -registered securities exchange.

Coinbase is also faced with a class action for the listing of Terra

Last month, the watchdog accused the former Coinbase product manager, Ishan Wahi, of insider trade with at least 25 digital assets.

The SEC says nine of the 25 assets marked are not registered securities. Services are tradable financial instruments whose definitions vary from country to country.

Shortly after Wahi's accusations were published, Bloomberg The SEC had started an examination of coinbase preceded.

In the USA is a security defined by the Howey in which it is determined whether an asset is an investment contract and should therefore fall into the responsibility of the SEC.

Preston Byrne, partner of the New York law firm Anderson Kill, said Blockworks last week that there was a very strong way to "have many things on coinbase investment contracts".

Messages about the Coinbase shops with the SEC had a negative impact on the share price (Coin), claims Bragar Eagel & Squire, which broke up by more than 21 % on the day of the Bloomberg report.

The coin shares have recovered since then and rose by almost 60 % in five days, most recently inspired by the news of Blackrock's deal to expand its institutional trade services.

A separate class action, submitted in June,

also submitted lawyers in June, the Coinbase customers represented, a further class action for allegations at the Federal Court in Northern California, the stock exchange had promoted the StableCoin Gyen, which at the time as "