SEC Suit Against Coinbase Can Go Forward, Judge Rules (2024)

FAQs

SEC Suit Against Coinbase Can Go Forward, Judge Rules? ›

The US Securities and Exchange Commission can proceed with its lawsuit against Coinbase Inc. , the biggest US cryptocurrency-trading platform, claiming the company failed to register as a securities business, a federal judge in New York ruled.

Zoom in: The conservative-led court upheld the Ninth Circuit court's in Coinbase, Inc. v. Suski, which denied Coinbase's motion to compel arbitration. Flashback: Coinbase held a dogecoin sweepstakes with prizes valued at up to $1.2 million.

The Securities and Exchange Commission scored a major win in its lawsuit against Coinbase. A judge ruled that the SEC's claim that the cryptocurrency exchange engaged in unregistered sales of securities could be heard by a jury at trial.

If the dispute is not resolved through the “Formal Complaint Process”, you may bring your complaint to arbitration as part of the Arbitration Agreement under the Coinbase Terms and Conditions. Arbitration is a process where a private 3rd party Arbitrator decides your lawsuit against Coinbase.

If Coinbase determines that you are eligible for reimbursem*nt under the Coinbase Account Protection, Coinbase will provide you with a one-time payment equal to the lesser of (i) the actual amount of funds or Digital Currency, as the case may be, that were improperly removed from your Coinbase account as a result of ...

If you have a question or complaint, please first contact the consumer assistance division of Coinbase at https://help.coinbase.com or (888) 908-7930, or at its mailing address: 1350 Ave of the Americas, Fl 2 # 1143, New York, NY 10019.

The American cryptocurrency exchange, Coinbase, is embroiled in yet another class-action lawsuit. This lawsuit alleges that investors were misled into purchasing tokens classified as unregistered securities. Filed last Friday, the class action also contends that the exchange's business model is unlawful.

Contacting Coinbase

Our preferred method of service for subpoenas and other law enforcement inquiries is email: [email protected]. To serve a subpoena or warrant via regular mail, please use the following address: Coinbase, Inc.

And since class action cases may take years, even to obtain a court-approved settlement, “sometimes it's easier to settle an individual case than the entire case,” Feldman says. However, if an eligible member does not plan on filing an independent lawsuit, there's no obvious downside to being a member, he says.

Can I sue Coinbase for locking my account? ›

You can sue Coinbase in small claims court. If you choose this you will be asked to attend court hearings and pay court fees to get started. You can also use consumer arbitration. This is something laid out in your contract with Coinbase, found in the small print of the user agreement.

Typically, a class-action lawsuit is started by filing a complaint that names at least one class representative, and that representative files the lawsuit on behalf of the entire proposed class. The defendant(s) will have a right to respond to the lawsuit.

How is my cryptocurrency insured? Coinbase carries crime insurance that protects a portion of digital assets held across our storage systems against losses from theft, including cybersecurity breaches.

The SEC's suit filed against Binance in June 2023 accused the exchange and Zhao of artificially inflating its trading volumes, diverting customer funds, failing to restrict U.S. customers from its platform and misleading investors about its market surveillance controls.

In most cases, bitcoin and cryptocurrency can be garnished by judgment creditors. It is a common misconception that bitcoin and other cryptocurrencies cannot be garnished. Bitcoin accounts held at U.S. institutions like Coinbase can be taken by a judgment creditor.