Judge Dismisses Proposed Class-Action Lawsuit Alleging Coinbase Sold Unregistered Securities

U.S. District Court Judge Paul Engelmayer has rejected claims in a proposed class action by customers who claim Coinbase sold them unregistered securities and also failed to register as a broker-dealer, according to a filing on Wednesday.

The case is Underwood vs. Coinbase Global in the Southern District of New York. Coinbase CEO Brian Armstrong was also named as a defendant.

This is a developing story.