The US-based cryptocurrency exchange Coinbase is facing a new class-action lawsuit in the Northern District of California. The lawsuit alleges that Coinbase has sold securities and investments to the plaintiffs and class without proper registration as a broker-dealer. Tokens such as Algorand, Near Protocol, Polygon, Uniswap, and Solana are among the digital securities listed in the lawsuit. The plaintiffs claim that Coinbase knowingly violated state security laws by soliciting customers to invest in these digital assets through various means, including website, social media, and even Super Bowl commercials. The plaintiffs are seeking full recission, injunctive relief, and statutory damages. Last year, the U.S. Securities and Exchange Commission also took legal action against Coinbase for engaging in unregistered sales of securities, including Cardano and other major cryptocurrencies. In March, the court rejected Coinbase’s bid to dismiss the lawsuit brought by the SEC.
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