A US judge has ruled that Coinbase must face class-action lawsuits brought by shareholders over regulatory risk concerns

Last week, a U.S. judge partially rejected Coinbase's request to deny a shareholder class action lawsuit, meaning Coinbase must face a class action lawsuit filed by shareholders over regulatory risk concerns. It is reported that New Jersey District Court Judge Brian Martinotti ruled last Thursday that while the plaintiffs made a persuasive case against Coinbase's conduct in relation to regulatory action (in fact the SEC did sue Coinbase), they did not make a persuasive case against most of the allegations. "The court finds that the plaintiffs sufficiently allege that the defendants misleadingly described the likelihood that the SEC would not take enforcement action by repeatedly emphasizing that the cryptoassets they listed were not securities," the court filing reads.