A US appeals court revived a 2021 consumer lawsuit against Coinbase Inc. accusing the cryptocurrency exchange of facilitating the sale of unregistered securities.
The 2nd US Circuit Court of Appeals said Friday the federal judge in New York who dismissed the suit last year shouldn’t have relied on a December 2021 user agreement because Coinbase had updated the language from earlier versions. The three-judge appeals panel sent the case back to the district court to determine which user agreement should be used in determining whether to dismiss the class-action suit.