Long time securities lawyer Tom Grady, known as one of the nation’s leading investment fraud attorneys, is preparing for potential litigation against the nation’s biggest crypto exchanges Coinbase, Robinhood, Kraken and others, according to a press release reviewed by FOX Business.
In the release, Grady said he launched an investigation into the exchanges’ operations and their potential violations of state and federal securities laws by transacting digital coins, the vast majority of which are regarded by the SEC as unregistered securities and thus operate in violation of federal law. Grady says the exchanges may have misled investors by not providing them with improper disclosures about the risk in trading and owning unregistered crypto.
“We believe Coinbase, Robinhood, and other exchanges have violated the law, and investors who lost money purchasing cryptocurrencies on their platforms may be entitled to recover those losses,” Grady stated in the press release.
Source: U.S. crypto exchanges could face possible class-action lawsuit | Fox Business
