Coinbase, the largest cryptocurrency exchange in the United States by volume, is facing a fresh lawsuit from customers who say the company's entire business model was illegal from the start, in an echo of a case already faced by the company. 

The lawsuit, filed in the Northern District of California by west coast law firm Scott+Scott and representing plaintiffs located in California and Florida, says Coinbase's sales of digital assets mean the company "knowingly, intentionally, and repeatedly violated state securities laws since it began doing business." 

In a statement, the company called the claims "legally baseless," writing, "We have full faith in the judicial process and look forward to addressing them in full at the appropriate time."

The lawsuit is similar is essence …