Law firm Bragar Eagel & Squire has filed a class action lawsuit against bitcoin exchange Coinbase in New Jersey District Court. Another claim came from Robbins Geller Rudman & Dowd LLP of San Diego.

According to the complaints, the platform made “false and misleading statements” regarding the nature of its activities. According to the plaintiffs, Coinbase offered investors cryptocurrency assets that had to be registered as securities.

The lawyers also cited a Bloomberg report on the alleged investigation. SEC It’s about Coinbase. Allegedly, it was possible to provide US residents with access to trading in digital assets that could be considered securities.

Earlier, the US Department of Justice announced the arrest of Ishan Wahi, the exchange’s former product manager, and two accomplices. They were accused of committing fraud using insider trading.

The SEC emphasized that we are talking about securities fraud by filing lawsuits against suspects with similar arguments. Thus, the agency classified 9 out of 25 cryptocurrencies that the defendants allegedly used in their operations.

HORSE CFTC criticized the actions of the regulator.

In August, Coinbase agreed to cooperate with BlackRock. Clients of the latter will have direct access to digital asset trading through a portfolio management system. Aladdin.

Recall, an aide to US Senator Cynthia Lummis, told reporters that the SEC has begun scrutinizing every registered cryptocurrency exchange in the country. According to him, the Coinbase investigation is the tip of the iceberg.

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