Beleaguered US cryptocurrency exchange Coinbase is staring down yet another class action lawsuit.
Law firm Bragar Eagel & Squire filed the suit on Thursday in the US District Court of New Jersey, alleging Coinbase made false or misleading claims about its business activities and compliance policies for more than a year, according to a statement.
Specifically, the multi-faceted claim asserts Coinbase held customer’s digital assets knowing they could end up as the property of a bankruptcy estate, potentially forcing customers to be treated as the exchange’s “general unsecured creditors.”
Coinbase is alleged to have allowed US customers to trade digital assets which the exchange “knew or recklessly disregarded” which should have been registered with the Securities and Exchange Commission (SEC).
Source: Coinbase Hit With Another Class Action Lawsuit Following SEC Allegations
