Coinbase won a lawsuit over crypto transactions. 🪙🎉
Coinbase, a leading cryptocurrency exchange, has won a lawsuit against the Securities Exchange Act, confirming that secondary sales of cryptocurrencies on its platform do not violate the Act. 📝
The case involved a nationwide group of people who traded tokens on Coinbase from October 8, 2019, to March 11, 2022. 🗓️
The plaintiffs claimed Coinbase's actions amounted to offering and selling unregistered securities and violating securities laws. 🔐
Coinbase argued that secondary crypto-asset sales did not meet securities transaction criteria. 🔂
The court overturned some lower court decisions while upholding others. The ruling is seen as a step forward in holding crypto platforms accountable under securities laws and promoting investor protection in the evolving crypto space. 🪙
