The Block Crypto News18 minutes ago

Published on March 27, 2024 14:22 GMT+00:00edited on March 27, 2024 14:24 GMT+00:00

Judge Katherine Polk Failla of New York ruled that a case involving the Securities and Exchange Commission and Coinbase is to proceed, denying the exchange's motion to dismiss the case. 

Judge Failla said the SEC has "sufficiently pleaded" that Coinbase operated as an exchange, broker and clearing agency, and engaged in the unregistered sale of securities through its staking program. However, the judge did decide to dismiss the SEC's claim that Coinbase acted as an unregistered broker when it made its Wallet application available to its customers, according to an order filed on Wednesday. 

Coinbase was sued by the SEC last year for allegedly operating as an unregistered exchange, broker and clearing agency. The regulator also took issue with Coinbase's staking and wallet …