Pomerantz LLP, a U.S. law firm, announced a class action lawsuit against cryptocurrency exchange Coinbase Global, Inc. (NASDAQ: COIN). The lawsuit accuses Coinbase and some of its executives of securities fraud or other illegal business practices. The direct trigger for the lawsuit was the UK Financial Conduct Authority (FCA)'s announcement of a fine of £3,503,546 on CB Payments Limited (CBPL) for repeatedly violating regulations prohibiting the provision of services to high-risk customers. The news caused Coinbase's stock price to fall by $13.54, or 5.53%, that day. CBPL is a wholly-owned subsidiary of Coinbase Global, Inc., and is primarily responsible for processing Coinbase's payment operations and services in the UK. #Cryptocurrency#