The SEC Notches Significant Victory in Case Against Coinbase

April 03, 2024 at 09:05 AM EDT

A recent court ruling in the lawsuit between the United States Securities and Exchange Commission (SEC) and Coinbase Global Inc. (NASDAQ: COIN) marks a significant development, allowing the SEC’s claim of unregistered securities sales against the crypto exchange to proceed to a jury trial. Following the decision by a Manhattan federal judge on March 27, 2024, Coinbase experienced a decline of approximately 2.5% in its share price.

The SEC initiated legal action against the exchange in June, alleging that the entity operated as an unregistered exchange and broker. Additionally, the SEC sought to permanently restrain Coinbase from…

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